Brunswick (NYSE:BC) Updates FY24 Earnings Guidance

Brunswick (NYSE:BC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of ~$4.50 for the period, compared to the consensus EPS estimate of $5.23. The company issued revenue guidance of $5.1-5.2 billion, compared to the consensus revenue estimate of $5.30 billion. Brunswick also updated its FY 2024 guidance to 4.500-4.500 EPS.

Brunswick Price Performance

Shares of Brunswick stock traded up $0.80 during trading hours on Friday, reaching $80.76. 1,113,859 shares of the company’s stock were exchanged, compared to its average volume of 718,351. The business has a fifty day moving average of $80.20 and a two-hundred day moving average of $79.27. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $5.46 billion, a P/E ratio of 15.07 and a beta of 1.51. Brunswick has a 1 year low of $66.47 and a 1 year high of $99.68.

Brunswick (NYSE:BC) last announced its quarterly earnings data 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 net margin of 5.92% and a return on equity of 23.46%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company posted $2.35 EPS. The firm’s revenue was down 15.2% on a year-over-year basis. As a group, research analysts predict that Brunswick will post 5.26 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BC. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Truist Financial reduced their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, July 29th. Citigroup boosted their price target on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.23.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the transaction, the director now directly owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is currently owned by insiders.

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.