Brunswick Corp. (BC) Shares Gap Up to $46.35
Shares of Brunswick Corp. (NYSE:BC) gapped up before the market opened on Friday . The stock had previously closed at $45.74, but opened at $46.35. Brunswick Corp. shares last traded at $47.66, with a volume of 316,320 shares trading hands.
A number of analysts recently issued reports on the company. B. Riley reissued a “buy” rating and set a $70.00 price objective on shares of Brunswick Corp. in a research report on Friday, April 29th. Sterne Agee CRT reissued a “buy” rating on shares of Brunswick Corp. in a research report on Sunday, May 22nd. Robert W. Baird reissued an “outperform” rating and set a $60.00 price objective on shares of Brunswick Corp. in a research report on Wednesday. Jefferies Group reissued a “hold” rating and set a $50.00 price objective on shares of Brunswick Corp. in a research report on Friday, April 29th. Finally, Zacks Investment Research cut Brunswick Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Brunswick Corp. currently has a consensus rating of “Buy” and a consensus target price of $56.55.
The company has a 50-day moving average price of $46.46 and a 200-day moving average price of $45.64. The firm has a market cap of $4.33 billion and a price-to-earnings ratio of 17.95.
Brunswick Corp. (NYSE:BC) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.71 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.71. The firm earned $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Brunswick Corp.’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Equities research analysts predict that Brunswick Corp. will post $3.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 24th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, May 20th.
In other Brunswick Corp. news, insider John C. Pfeifer sold 1,519 shares of the stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $47.69, for a total transaction of $72,441.11. Following the completion of the transaction, the insider now owns 50,655 shares in the company, valued at approximately $2,415,736.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
A number of institutional investors have recently added to or reduced their stakes in BC. ARGI Investment Services LLC boosted its position in Brunswick Corp. by 2.5% in the fourth quarter. ARGI Investment Services LLC now owns 22,014 shares of the company’s stock worth $1,112,000 after buying an additional 535 shares during the period. Stevens Capital Management LP boosted its position in Brunswick Corp. by 12.0% in the fourth quarter. Stevens Capital Management LP now owns 23,190 shares of the company’s stock worth $1,171,000 after buying an additional 2,484 shares during the period. BNP Paribas Arbitrage SA boosted its position in Brunswick Corp. by 6.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 26,078 shares of the company’s stock worth $1,317,000 after buying an additional 1,471 shares during the period. Trexquant Investment LP boosted its position in Brunswick Corp. by 145.0% in the fourth quarter. Trexquant Investment LP now owns 26,480 shares of the company’s stock worth $1,338,000 after buying an additional 15,671 shares during the period. Finally, Strategic Global Advisors LLC boosted its position in Brunswick Corp. by 6.9% in the fourth quarter. Strategic Global Advisors LLC now owns 28,097 shares of the company’s stock worth $1,419,000 after buying an additional 1,820 shares during the period.
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.