Brunswick (NYSE:BC) Shares Gap Down - What's Next?

Brunswick Corporation (NYSE:BC - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $64.69, but opened at $60.41. Brunswick shares last traded at $61.86, with a volume of 949,678 shares.

Wall Street Analysts Forecast Growth

BC has been the subject of several recent analyst reports. Roth Capital raised their price objective on shares of Brunswick from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday. Robert W. Baird raised 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. Truist Financial lowered their price target on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 14th. DA Davidson reissued a "neutral" rating and issued a $43.00 price target (down previously from $64.00) on shares of Brunswick in a report on Monday, April 28th. Finally, Benchmark assumed coverage on shares of Brunswick in a report on Monday, April 28th. They issued a "buy" rating and a $70.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.46.

Brunswick Trading Up 1.9%

The company has a market capitalization of $3.98 billion, a P/E ratio of 97.65 and a beta of 1.27. The business's 50-day moving average price is $56.22 and its two-hundred day moving average price is $56.66. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.68 and a quick ratio of 0.65.

Brunswick (NYSE:BC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.89 by $0.27. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The business 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 firm posted $1.80 EPS. The firm's revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 20th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.72 annualized dividend and a yield of 2.84%. Brunswick's payout ratio is currently 142.15%.

Insider Transactions at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of Brunswick stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total value of $122,319.24. Following the sale, the vice president directly owned 44,466 shares in the company, valued at approximately $2,599,927.02. The trade was a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.81% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BC. Allworth Financial LP grew its stake in Brunswick by 4,972.7% in the 1st quarter. Allworth Financial LP now owns 558 shares of the company's stock valued at $30,000 after buying an additional 547 shares during the last quarter. UMB Bank n.a. boosted its position in Brunswick by 695.7% in the first quarter. UMB Bank n.a. now owns 732 shares of the company's stock valued at $39,000 after buying an additional 640 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Brunswick by 477.0% in the first quarter. Geneos Wealth Management Inc. now owns 727 shares of the company's stock valued at $39,000 after buying an additional 601 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Brunswick by 171.6% during the first quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock valued at $41,000 after acquiring an additional 477 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Brunswick by 451.0% during the first quarter. Signaturefd LLC now owns 810 shares of the company's stock worth $44,000 after buying an additional 663 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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.