Brunswick (NYSE:BC) Releases FY24 Earnings Guidance

Brunswick (NYSE:BC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $7.00-$8.00 for the period, compared to the consensus EPS estimate of $7.38. The company issued revenue guidance of $6.0-$6.2 billion, compared to the consensus revenue estimate of $6.03 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. B. Riley upgraded shares of Brunswick from a neutral rating to a buy rating and lifted their price target for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Roth Mkm lifted their price target on shares of Brunswick from $85.00 to $94.00 and gave the company a buy rating in a research report on Friday, February 2nd. DA Davidson reiterated a neutral rating and set a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. BNP Paribas restated a neutral rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Finally, Stifel Nicolaus lifted their price objective on Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $92.08.

Brunswick Stock Down 0.3 %

BC stock opened at $86.12 on Thursday. The stock has a market capitalization of $5.93 billion, a P/E ratio of 14.47 and a beta of 1.56. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43. Brunswick has a one year low of $66.47 and a one year high of $99.68. The company has a 50 day moving average price of $89.30 and a two-hundred day moving average price of $84.79.

Brunswick (NYSE:BC) last released its earnings results on Thursday, February 1st. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.21). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm’s revenue was down 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 earnings per share. As a group, sell-side analysts expect that Brunswick will post 7.5 EPS for the current year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a $0.42 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, February 23rd. Brunswick’s payout ratio is presently 28.24%.

Insider Activity

In other news, EVP John G. Buelow sold 2,426 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.12, for a total transaction of $211,353.12. Following the completion of the sale, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at approximately $1,237,016.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.12, for a total transaction of $211,353.12. Following the transaction, 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 sold 52,696 shares of company stock valued at $4,574,199 in the last ninety days. Company 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.