Brunswick (NYSE:BC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Brunswick (NYSE:BC - Get Free Report) released its quarterly earnings results on Thursday. The company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.36 by ($0.01), Briefing.com reports. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the firm earned $2.57 EPS. Brunswick's quarterly revenue was down 21.7% on a year-over-year basis.

Brunswick Trading Up 1.3 %

NYSE BC traded up $1.05 during trading on Friday, hitting $81.05. The company had a trading volume of 682,385 shares, compared to its average volume of 754,562. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. Brunswick has a one year low of $66.47 and a one year high of $99.68. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 13.63 and a beta of 1.56. The company's fifty day moving average is $89.13 and its 200-day moving average is $84.77.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This is a positive change from Brunswick's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.07%. Brunswick's dividend payout ratio is 28.24%.

Insiders Place Their Bets

In related news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares of the company's stock, valued at approximately $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Christopher F. Dekker sold 6,234 shares of the firm's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the sale, the vice president now owns 35,176 shares of the company's stock, valued at approximately $2,973,427.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David M. Foulkes sold 35,000 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BC has been the subject of a number of research reports. Roth Mkm reissued a "buy" rating and issued a $94.00 price target on shares of Brunswick in a research note on Thursday. B. Riley upgraded shares of Brunswick from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Truist Financial lowered their price objective on shares of Brunswick from $115.00 to $105.00 and set a "buy" rating for the company in a report on Friday, February 2nd. BNP Paribas restated a "neutral" rating and issued a $82.00 price objective (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Finally, Raymond James lowered shares of Brunswick from an "outperform" rating to a "market perform" rating in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $92.83.

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.