Brunswick (NYSE:BC) Issues FY24 Earnings Guidance

Brunswick (NYSE:BC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $5.00-$5.50 for the period, compared to the consensus EPS estimate of $7.01. The company issued revenue guidance of $5.2-$5.4 billion, compared to the consensus revenue estimate of $5.90 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BC. BNP Paribas restated a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Truist Financial decreased their price objective on shares of Brunswick from $95.00 to $90.00 and set a buy rating for the company in a report on Monday, July 8th. Morgan Stanley reduced their price target on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a report on Friday, April 26th. Benchmark started coverage on shares of Brunswick in a report on Wednesday, May 22nd. They issued a buy rating and a $100.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Brunswick from $78.00 to $75.00 and set a neutral rating for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $90.00.

Brunswick Stock Performance

Shares of BC stock opened at $71.99 on Thursday. The company’s fifty day simple moving average is $76.18 and its 200-day simple moving average is $83.23. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The firm has a market cap of $4.86 billion, a PE ratio of 13.67 and a beta of 1.52. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company posted $2.35 earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year. Equities research analysts expect that Brunswick will post 7.18 EPS for the current fiscal year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, August 21st. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

Insiders Place Their Bets

In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now directly owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Brenna Preisser sold 1,225 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the transaction, the vice president now directly owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the transaction, the director now directly owns 23,211 shares in the company, valued at $1,864,771.74. The disclosure for this sale can be found here. 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.