Brunswick (NYSE:BC) Earns Buy Rating from Analysts at Benchmark

Benchmark started coverage on shares of Brunswick (NYSE:BC) in a report published on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $100.00 price objective on the stock.

BC has been the subject of several other research reports. Roth Mkm reiterated a buy rating and set a $94.00 target price on shares of Brunswick in a research report on Thursday, April 25th. DA Davidson reissued a neutral rating and issued a $77.00 target price on shares of Brunswick in a report on Friday, March 15th. Morgan Stanley cut their target price on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research note on Friday, April 26th. BNP Paribas reiterated a neutral rating and issued a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Finally, Truist Financial cut their price objective on Brunswick from $115.00 to $105.00 and set a buy rating for the company in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Brunswick presently has an average rating of Moderate Buy and an average price target of $93.38.

Brunswick Price Performance

NYSE BC opened at $79.51 on Wednesday. The business’s fifty day moving average is $86.50 and its 200 day moving average is $86.14. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. The company has a market capitalization of $5.37 billion, a PE ratio of 14.78 and a beta of 1.60.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. Brunswick’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 EPS. Sell-side analysts predict that Brunswick will post 7.39 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, May 13th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Insider Activity

In other Brunswick 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 completion of the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated 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 $23,748,450.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now directly owns 23,211 shares in the company, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,582 shares of company stock valued at $3,178,092. 0.81% of the stock is currently owned by insiders.

Institutional Trading of Brunswick

Several institutional investors and hedge funds have recently made changes to their positions in the business. Swedbank AB purchased a new stake in shares of Brunswick in the first quarter valued at approximately $19,304,000. Garner Asset Management Corp raised its position in Brunswick by 1.4% during the 1st quarter. Garner Asset Management Corp now owns 57,747 shares of the company’s stock valued at $5,574,000 after purchasing an additional 801 shares in the last quarter. Comerica Bank lifted its holdings in shares of Brunswick by 0.6% in the 1st quarter. Comerica Bank now owns 35,548 shares of the company’s stock worth $3,431,000 after buying an additional 205 shares during the period. Tidal Investments LLC grew its position in shares of Brunswick by 102.6% during the 1st quarter. Tidal Investments LLC now owns 16,236 shares of the company’s stock worth $1,567,000 after buying an additional 8,224 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its stake in shares of Brunswick by 12.0% during the first quarter. Kennedy Capital Management LLC now owns 117,742 shares of the company’s stock valued at $11,364,000 after buying an additional 12,618 shares during the period. 99.34% of the stock is currently owned by institutional investors.

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.