Brunswick Corporation (NYSE:BC) Receives $68.25 Average Target Price from Analysts

Key Points

• Brunswick Corporation has received an average recommendation of "Moderate Buy" from analysts, with six holding and seven buying ratings among thirteen research firms.
• Recent earnings report showed Brunswick beat expectations with $1.16 EPS against a consensus of $0.89, and revenue of $1.45 billion compared to anticipation of $1.25 billion.
• The company announced a quarterly dividend of $0.43 per share, yielding 3.0%, with an ex-dividend date set for August 20th.

Shares of Brunswick Corporation (NYSE:BC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $68.25.

Several analysts recently issued reports on BC shares. Robert W. Baird upped their price target on shares of Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Roth Capital increased their target price on shares of Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Benchmark initiated coverage on shares of Brunswick in a research report on Monday, April 28th. They issued a "buy" rating and a $70.00 target price for the company. BMO Capital Markets cut their price target on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, DA Davidson upped their price objective on shares of Brunswick from $43.00 to $59.00 and gave the company a "neutral" rating in a research note on Monday, July 28th.

Insider Buying and Selling at Brunswick

In other news, VP Christopher F. Dekker sold 2,092 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total value of $122,319.24. Following the completion of the sale, the vice president directly owned 44,466 shares of the company's stock, valued at approximately $2,599,927.02. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Brunswick

Several hedge funds have recently modified their holdings of BC. Norges Bank bought a new position in shares of Brunswick during the fourth quarter valued at $30,097,000. Pictet Asset Management Holding SA increased its position in Brunswick by 12.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,422 shares of the company's stock worth $609,000 after purchasing an additional 1,080 shares during the period. Franklin Resources Inc. boosted its holdings in Brunswick by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 237,595 shares of the company's stock worth $15,368,000 after buying an additional 4,467 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Brunswick during the fourth quarter worth about $736,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Brunswick during the 4th quarter valued at about $737,000. 99.34% of the stock is owned by institutional investors.

Brunswick Trading Up 3.8%

Shares of NYSE BC traded up $2.17 during midday trading on Friday, reaching $58.81. 1,031,271 shares of the stock were exchanged, compared to its average volume of 976,385. Brunswick has a 52-week low of $41.00 and a 52-week high of $87.65. The stock has a 50 day moving average price of $57.14 and a 200-day moving average price of $56.27. The company has a market capitalization of $3.84 billion, a P/E ratio of 94.85 and a beta of 1.28. The company has a current ratio of 1.68, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.27. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the previous year, the company posted $1.80 earnings per share. Brunswick's revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Brunswick will post 4.19 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 20th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, August 20th. Brunswick's dividend payout ratio is currently 277.42%.

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.