Brokerages predict that Brunswick Co. (NYSE:BC) will post $1.25 billion in sales for the current quarter, according to Zacks. Ten analysts have provided estimates for Brunswick’s earnings, with the lowest sales estimate coming in at $1.21 billion and the highest estimate coming in at $1.28 billion. Brunswick posted sales of $1.14 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The firm is expected to report its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Brunswick will report full year sales of $5.08 billion for the current financial year, with estimates ranging from $4.99 billion to $5.15 billion. For the next year, analysts anticipate that the company will report sales of $5.50 billion per share, with estimates ranging from $5.31 billion to $5.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Brunswick.
Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, July 26th. The company reported $1.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.05). Brunswick had a net margin of 2.38% and a return on equity of 24.14%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned $1.35 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year.
A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of Brunswick from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, June 14th. Zacks Investment Research downgraded shares of Brunswick from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. B. Riley raised their target price on shares of Brunswick to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 3rd. Imperial Capital raised their target price on shares of Brunswick from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, July 9th. Finally, KeyCorp raised their target price on shares of Brunswick from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $73.50.
In other Brunswick news, CEO Mark D. Schwabero sold 16,262 shares of the firm’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $63.54, for a total transaction of $1,033,287.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Metzger sold 13,530 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $67.42, for a total transaction of $912,192.60. The disclosure for this sale can be found here. Insiders have sold a total of 45,029 shares of company stock worth $2,973,216 in the last ninety days. 1.00% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in BC. Cornerstone Wealth Management LLC acquired a new position in Brunswick during the 2nd quarter worth $158,000. Meeder Asset Management Inc. boosted its holdings in shares of Brunswick by 1,186.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,572 shares of the company’s stock valued at $166,000 after buying an additional 2,372 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Brunswick in the 2nd quarter valued at about $200,000. GAM Holding AG acquired a new position in shares of Brunswick in the 2nd quarter valued at about $203,000. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Brunswick in the 2nd quarter valued at about $216,000. 95.87% of the stock is owned by institutional investors.
Shares of BC stock traded down $0.24 during mid-day trading on Friday, reaching $64.67. The company’s stock had a trading volume of 21,564 shares, compared to its average volume of 881,141. Brunswick has a 12-month low of $48.04 and a 12-month high of $69.60. The company has a current ratio of 1.70, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $5.46 billion, a PE ratio of 16.80, a P/E/G ratio of 1.11 and a beta of 1.71.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Tuesday, August 21st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Monday, August 20th. Brunswick’s dividend payout ratio (DPR) is 4.88%.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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