Brunswick (NYSE:BC) Announces Quarterly Earnings Results

Brunswick (NYSE:BC) issued its quarterly earnings data on Thursday. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01), Briefing.com reports. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. Brunswick’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same quarter last year, the company earned $2.57 EPS.

Brunswick Price Performance

Shares of BC stock traded up $1.08 during mid-day trading on Friday, hitting $81.08. 682,385 shares of the stock traded hands, compared to its average volume of 754,562. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 13.63 and a beta of 1.56. The company’s 50-day simple moving average is $89.13 and its 200-day simple moving average is $84.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a $0.42 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s dividend payout ratio (DPR) is currently 28.24%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 2nd. BNP Paribas reissued a “neutral” rating and issued a $82.00 price target (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and set a $94.00 target price on shares of Brunswick in a research note on Thursday. Morgan Stanley dropped their target price on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Stifel Nicolaus increased their target price on Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.83.

Insider Transactions at Brunswick

In related news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at $23,748,450.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP John G. Buelow sold 2,426 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the transaction, the executive vice president now owns 14,199 shares of the company’s stock, valued at approximately $1,237,016.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock valued at $4,574,199 in the last three months. 0.81% of the stock is currently owned by corporate insiders.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.