Brunswick (NYSE:BC) Updates Q2 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 2.040. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Brunswick from $88.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Raymond James downgraded Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. BNP Paribas reissued a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. B. Riley raised Brunswick from a neutral rating to a buy rating and raised their target price for the company from $100.00 to $108.00 in a report on Tuesday, February 20th. Finally, Roth Mkm reiterated a buy rating and set a $94.00 price target on shares of Brunswick in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $92.83.

Brunswick Stock Performance

Shares of BC traded up $1.05 on Friday, reaching $81.05. 682,385 shares of the stock traded hands, compared to its average volume of 754,562. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 13.62 and a beta of 1.56. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68. The stock’s 50-day moving average price is $89.13 and its 200-day moving average price is $84.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59.

Brunswick (NYSE:BC) last announced its quarterly earnings data 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). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 EPS. Equities analysts forecast that Brunswick will post 7.5 EPS for the current fiscal year.

Brunswick Increases Dividend

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

Insider Activity

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