Brunswick Corporation (NYSE:BC) declared a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Shareholders of record on Tuesday, November 21st will be given a dividend of 0.19 per share on Friday, December 15th. This represents a $0.76 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, November 20th. This is a boost from Brunswick Corporation’s previous quarterly dividend of $0.17.
Brunswick Corporation has raised its dividend payment by an average of 83.2% per year over the last three years and has increased its dividend every year for the last 4 years. Brunswick Corporation has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Brunswick Corporation to earn $4.53 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 16.8%.
Brunswick Corporation (NYSE BC) traded up 2.82% during trading on Friday, reaching $50.00. The company’s stock had a trading volume of 3,235,649 shares. The firm has a 50 day moving average price of $55.96 and a 200-day moving average price of $57.22. Brunswick Corporation has a 52-week low of $42.02 and a 52-week high of $63.82. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 15.86 and a beta of 1.85.
Brunswick Corporation (NYSE:BC) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Brunswick Corporation’s revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Brunswick Corporation will post $3.98 earnings per share for the current year.
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A number of equities research analysts have weighed in on the stock. Forward View set a $60.00 target price on shares of Brunswick Corporation and gave the company a “hold” rating in a research note on Sunday, July 30th. BidaskClub downgraded shares of Brunswick Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Brunswick Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price objective on shares of Brunswick Corporation in a research report on Wednesday, July 12th. Finally, BMO Capital Markets dropped their target price on shares of Brunswick Corporation from $68.00 to $62.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $64.36.
About Brunswick Corporation
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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