Brunswick (BC) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Brunswick (NYSE:BC) from a buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Brunswick Corporation endeavors to instill Genuine Ingenuity in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. “
BC has been the subject of several other research reports. Royal Bank of Canada lifted their price objective on Brunswick and gave the company an outperform rating in a research note on Wednesday, December 6th. KeyCorp reiterated an overweight rating on shares of Brunswick in a research note on Friday, March 2nd. Stifel Nicolaus reiterated a buy rating and issued a $65.00 price objective (up previously from $61.00) on shares of Brunswick in a research note on Wednesday, January 17th. Robert W. Baird reiterated a buy rating and issued a $65.00 price objective on shares of Brunswick in a research note on Friday, December 22nd. Finally, ValuEngine cut Brunswick from a buy rating to a hold rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $68.79.
Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Brunswick had a net margin of 3.09% and a return on equity of 22.52%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. sell-side analysts expect that Brunswick will post 4.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Tuesday, February 27th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.27%. The ex-dividend date was Monday, February 26th. Brunswick’s payout ratio is 47.80%.
In related news, VP Christopher F. Dekker sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $58.84, for a total transaction of $182,404.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Cerebellum GP LLC purchased a new stake in Brunswick during the fourth quarter worth approximately $128,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Brunswick by 1,158.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,391 shares of the company’s stock worth $132,000 after purchasing an additional 2,201 shares during the last quarter. Annex Advisory Services LLC purchased a new stake in Brunswick during the fourth quarter worth approximately $238,000. Boothbay Fund Management LLC acquired a new position in Brunswick during the third quarter worth approximately $252,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Brunswick by 47.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,757 shares of the company’s stock worth $263,000 after buying an additional 1,540 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.
Brunswick Company Profile
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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