Brunswick (NYSE:BC) Issues Earnings Results, Misses Expectations By $0.10 EPS

Brunswick (NYSE:BC) announced its quarterly earnings data on Thursday. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10), RTT News reports. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the business earned $2.35 earnings per share. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year.

Brunswick Stock Up 1.2 %

NYSE BC traded up $0.96 during trading on Friday, hitting $79.98. The stock had a trading volume of 1,573,593 shares, compared to its average volume of 977,837. The company has a market capitalization of $5.40 billion, a PE ratio of 14.87 and a beta of 1.52. The company’s 50-day moving average price is $76.11 and its two-hundred day moving average price is $83.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now owns 58,076 shares in the company, valued at approximately $4,767,458.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the sale, the vice president now owns 58,076 shares in the company, valued at approximately $4,767,458.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BC. Citigroup reduced their target price on Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Jefferies Financial Group restated a “hold” rating and set a $70.00 target price (down previously from $115.00) on shares of Brunswick in a report on Friday. Truist Financial reduced their target price on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their target price on Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Robert W. Baird reduced their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.57.

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.