Brunswick (NYSE:BC) Issues Quarterly Earnings Results

Brunswick (NYSE:BC) posted its quarterly earnings data on Thursday. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01), Briefing.com reports. 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 quarter in the previous year, the firm posted $2.57 earnings per share. The company’s revenue for the quarter was down 21.7% on a year-over-year basis.

Brunswick Stock Up 1.4 %

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

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend 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 payout ratio is presently 31.23%.

Insider Activity at Brunswick

In related 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 value of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,696 shares of company stock valued at $4,574,199. Insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. DA Davidson reiterated a “neutral” rating and set a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Morgan Stanley lowered their price objective on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday. B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. Raymond James cut shares of Brunswick from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Finally, Truist Financial lowered their price target on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.83.

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.