Brunswick (NYSE:BC) Issues Q2 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.85-$2.05 for the period, compared to the consensus EPS estimate of $2.03. The company issued revenue guidance of $1.50-$1.60 billion, compared to the consensus revenue estimate of $1.60 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Brunswick Stock Performance

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

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.35 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 for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $2.57 EPS. The firm’s quarterly revenue was down 21.7% on a year-over-year basis. Equities research analysts anticipate that Brunswick will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

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

Wall Street Analyst Weigh In

BC has been the subject of several recent analyst reports. Roth Mkm reaffirmed a buy rating and set a $94.00 price objective on shares of Brunswick in a report on Thursday. DA Davidson reaffirmed a neutral rating and set a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. B. Riley raised shares of Brunswick from a neutral rating to a buy rating and raised their price objective for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Raymond James lowered shares of Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. Finally, Stifel Nicolaus increased their price target 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. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Brunswick presently has an average rating of Moderate Buy and a consensus price target of $92.83.

Insider Buying and Selling at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction on 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 transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ryan M. Gwillim sold 9,036 shares of Brunswick stock in a transaction on Friday, February 16th. The stock was sold at an average price of $87.10, for a total transaction of $787,035.60. Following the transaction, the chief financial officer now directly owns 28,966 shares in the company, valued at $2,522,938.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,696 shares of company stock valued at $4,574,199. 0.81% of the stock is currently owned by insiders.

About Brunswick

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.