Brunswick (NYSE:BC) Issues FY24 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $7.00-$8.00 for the period, compared to the consensus EPS estimate of $7.38. The company issued revenue guidance of $6.0-$6.2 billion, compared to the consensus revenue estimate of $6.03 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Brunswick Trading Up 1.4 %

Shares of NYSE BC traded up $1.08 during midday trading on Friday, reaching $81.08. 682,420 shares of the stock were exchanged, compared to its average volume of 752,359. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68. The stock has a 50 day moving average price of $89.13 and a 200-day moving average price of $84.77. The company has a market capitalization of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56. The company has a current ratio of 1.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Brunswick (NYSE:BC) last released its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. Brunswick’s revenue for the quarter was down 21.7% compared to the same quarter last year. Equities research analysts expect that Brunswick will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. This is an increase from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s payout ratio is presently 31.23%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research note on Friday. B. Riley upgraded shares of Brunswick from a neutral rating to a buy rating and boosted their price objective for the stock from $100.00 to $108.00 in a research note on Tuesday, February 20th. Truist Financial decreased their price objective on shares of Brunswick from $115.00 to $105.00 and set a buy rating for the company in a research note on Friday, February 2nd. Raymond James downgraded shares of Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Finally, BNP Paribas reissued a neutral rating and set a $82.00 target price (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $92.83.

Insider Activity at Brunswick

In other Brunswick news, CFO Ryan M. Gwillim sold 9,036 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.10, for a total transaction of $787,035.60. Following the completion of the sale, the chief financial officer now owns 28,966 shares in the company, valued at $2,522,938.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Brunswick news, CFO Ryan M. Gwillim sold 9,036 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.10, for a total transaction of $787,035.60. Following the completion of the sale, the chief financial officer now owns 28,966 shares in the company, valued at $2,522,938.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the sale, the vice president now owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold 52,696 shares of company stock valued at $4,574,199 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.

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.