Brunswick (NYSE:BC) Issues Q2 2024 Earnings Guidance

Brunswick (NYSE:BC - Get Free Report) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 2.040. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Brunswick also updated its FY 2024 guidance to 7.000-8.000 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, January 17th. BNP Paribas reaffirmed a neutral rating and issued a $82.00 target price (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Truist Financial lowered their target price on Brunswick from $115.00 to $105.00 and set a buy rating for the company in a report on Friday, February 2nd. Raymond James cut Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Finally, DA Davidson reissued a neutral rating and issued a $77.00 price target on shares of Brunswick in a research note on Friday, March 15th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $92.08.

Brunswick Stock Performance

Shares of Brunswick stock traded down $6.15 during trading hours on Thursday, reaching $79.98. The company had a trading volume of 1,799,054 shares, compared to its average volume of 755,464. Brunswick has a one year low of $66.47 and a one year high of $99.68. The business has a fifty day simple moving average of $89.29 and a 200 day simple moving average of $84.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. The firm has a market cap of $5.50 billion, a PE ratio of 13.44 and a beta of 1.56.

Brunswick (NYSE:BC - Get Free Report) last announced its earnings results on Thursday, February 1st. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.21). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. Brunswick's revenue was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.99 earnings per share. On average, analysts anticipate that Brunswick will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Friday, February 23rd. This is a boost from Brunswick's previous quarterly dividend of $0.40. Brunswick's dividend payout ratio is currently 28.24%.

Insider Transactions at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares of the company's stock, valued at $2,973,427.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Ryan M. Gwillim sold 9,036 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.10, for a total transaction of $787,035.60. Following the transaction, the chief financial officer now directly owns 28,966 shares of the company's stock, valued at $2,522,938.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last three months, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is currently owned by corporate insiders.

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.