Brunswick (NYSE:BC) Share Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Brunswick shares fell below their 200-day moving average of $77.06, touching $76.25 and last trading at $76.43.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $83.75. Citigroup cut its target to $93 and Truist lowered its target to $81, while retaining Buy ratings.
• Latest quarterly EPS of $1.58 beat estimates of $1.35, while revenue of $1.45 billion narrowly missed expectations. Brunswick also declared a $0.44 quarterly dividend, equivalent to a 2.3% yield.

Brunswick Corporation (NYSE:BC - Get Free Report)'s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $77.06 and traded as low as $76.25. Brunswick shares last traded at $76.4330, with a volume of 425,516 shares changing hands.

Analysts Set New Price Targets

BC has been the topic of several analyst reports. Citigroup dropped their target price on Brunswick from $101.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, November 2nd. William Blair set a $94.00 price target on Brunswick in a research note on Thursday, August 13th. Truist Financial decreased their price target on Brunswick from $94.00 to $81.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Robert W. Baird set a $92.00 price target on Brunswick in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded Brunswick from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.75.

Brunswick Trading Down 2.5%

The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 23.66 and a beta of 1.40. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 1.07. The business's 50 day simple moving average is $69.04 and its 200 day simple moving average is $77.06.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.23. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Brunswick had a net margin of 3.69% and a return on equity of 17.51%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. On average, research analysts expect that Brunswick Corporation will post 4.66 EPS for the current fiscal year.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 24th will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, November 24th. This represents a $1.76 dividend on an annualized basis and a yield of 2.3%. Brunswick's dividend payout ratio (DPR) is presently 54.49%.

Insider Buying and Selling

In other Brunswick news, CEO David Foulkes sold 48,134 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $78.98, for a total transaction of $3,801,623.32. Following the transaction, the chief executive officer owned 221,047 shares of the company's stock, valued at $17,458,292.06. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.99% of the company's stock.

Institutional Trading of Brunswick

A number of hedge funds have recently made changes to their positions in the business. Benjamin Edwards Inc. boosted its stake in shares of Brunswick by 15.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 7,786 shares of the company's stock worth $500,000 after acquiring an additional 1,063 shares during the period. Private Wealth Asset Management LLC bought a new stake in Brunswick in the 3rd quarter valued at $212,000. Ieq Capital LLC raised its stake in Brunswick by 141.0% in the 3rd quarter. Ieq Capital LLC now owns 75,646 shares of the company's stock valued at $4,860,000 after acquiring an additional 44,259 shares during the period. Focus Advisor Solutions LLC lifted its holdings in Brunswick by 314.2% during the 3rd quarter. Focus Advisor Solutions LLC now owns 14,186 shares of the company's stock valued at $911,000 after purchasing an additional 10,761 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Brunswick during the 3rd quarter valued at $1,143,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Company Profile

Brunswick Corporation is a marine recreation company that designs, manufactures and markets boats, marine engines and propulsion systems, and related parts and accessories. Its products serve recreational boaters and other customers in the marine industry. The company's brands include Mercury Marine, which makes outboard engines and other propulsion products, and boat brands such as Sea Ray, Boston Whaler, Bayliner and Lund. Brunswick also supplies marine electronics and equipment, including products under the Simrad, Lowrance and B&G brands.

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