Brunswick (NYSE:BC) Releases FY 2024 Earnings Guidance

Brunswick (NYSE:BC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.000-8.000 for the period, compared to the consensus estimate of 7.420. The company issued revenue guidance of $6.0 billion-$6.2 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $7.00-$8.00 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BC shares. DA Davidson restated a neutral rating and set a $77.00 price objective on shares of Brunswick in a research note on Friday, March 15th. BNP Paribas restated a neutral rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Truist Financial reduced their target price on Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a report on Friday, February 2nd. Raymond James downgraded Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. Finally, Roth Mkm reaffirmed a buy rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Brunswick has an average rating of Moderate Buy and a consensus target price of $92.83.

Brunswick Stock Up 1.4 %

BC stock traded up $1.08 during trading on Friday, reaching $81.08. 682,420 shares of the stock were exchanged, compared to its average volume of 752,359. The firm’s 50 day moving average is $89.02 and its 200 day moving average is $84.81. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a current ratio of 1.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market cap of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted $2.57 earnings per share. The firm’s quarterly revenue was down 21.7% compared to the same quarter last year. As a group, research analysts forecast that Brunswick will post 7.43 EPS for the current year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.07%. Brunswick’s dividend payout ratio is currently 31.23%.

Insider Activity

In other Brunswick news, EVP John G. Buelow sold 2,426 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the completion of the transaction, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John G. Buelow sold 2,426 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the transaction, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock valued at $4,574,199 over the last three months. Corporate insiders own 0.81% of the company’s stock.

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.