Brunswick (NYSE:BC) Issues FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 7.000-8.000 for the period, compared to the consensus EPS estimate of 7.420. The company issued revenue guidance of $6.0 billion-$6.2 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $7.00-$8.00 EPS.

Brunswick Price Performance

Shares of BC stock traded up $1.08 on Friday, reaching $81.08. The company’s stock had a trading volume of 682,420 shares, compared to its average volume of 752,359. The stock’s fifty day simple moving average is $89.13 and its 200-day simple moving average is $84.77. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68. The company has a current ratio of 1.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 15.07 and a beta of 1.56.

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

Brunswick Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on BC shares. DA Davidson restated a neutral rating and issued a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Roth Mkm reiterated a buy rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday. Stifel Nicolaus boosted their target price on shares of Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Morgan Stanley reduced their target price on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a report on Friday. Finally, B. Riley upgraded shares of Brunswick from a neutral rating to a buy rating and boosted their target price for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $92.83.

Insider Activity at Brunswick

In related news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the sale, the vice president now owns 35,176 shares in the company, valued at $2,973,427.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the sale, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John G. Buelow sold 2,426 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the sale, the executive vice president now owns 14,199 shares in the company, valued at approximately $1,237,016.88. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock worth $4,574,199 over the last quarter. 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.