Brunswick (NYSE:BC) Issues Q2 2024 Earnings Guidance

Brunswick (NYSE:BC) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.850-2.050 for the period, compared to the consensus EPS 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 Ratings Changes

Several equities research analysts have issued reports on the company. Raymond James downgraded Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. DA Davidson reiterated a neutral rating and set a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. BNP Paribas reiterated a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Stifel Nicolaus increased their price objective on Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. Finally, Roth Mkm increased their price objective on Brunswick from $85.00 to $94.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brunswick currently has an average rating of Moderate Buy and an average target price of $92.08.

Brunswick Price Performance

Shares of NYSE BC traded down $5.85 during mid-day trading on Thursday, reaching $80.28. The company had a trading volume of 484,338 shares, compared to its average volume of 737,999. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43. Brunswick has a one year low of $66.47 and a one year high of $99.68. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 13.42 and a beta of 1.56. The business’s 50-day simple moving average is $89.30 and its 200 day simple moving average is $84.79.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). The company 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%. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.99 EPS. On average, research analysts predict that Brunswick will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid 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 2.09%. Brunswick’s dividend payout ratio (DPR) is 28.24%.

Insider Activity at Brunswick

In related news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $87.11, for a total value 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 $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Ryan M. Gwillim sold 9,036 shares of Brunswick 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 sale, 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 is accessible through the SEC website. Also, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders have sold 52,696 shares of company stock valued at $4,574,199 over the last ninety days. 0.81% of the stock is 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.