Brunswick Co. (BC) to Issue Quarterly Dividend of $0.42 on June 14th

Brunswick Co. (NYSE:BC) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.42 per share on Friday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, May 10th.

Brunswick has increased its dividend by an average of 17.4% annually over the last three years and has raised its dividend every year for the last 11 years.

Brunswick Price Performance

Shares of NYSE BC opened at $81.69 on Wednesday. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The business has a 50-day moving average of $88.18 and a 200-day moving average of $85.30. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 15.18 and a beta of 1.60.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. 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 previous year, the company earned $2.57 EPS. Brunswick’s quarterly revenue was down 21.7% on a year-over-year basis. On average, equities analysts anticipate that Brunswick will post 7.39 EPS for the current fiscal year.

Insider Transactions at Brunswick

In other news, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the sale, the vice president now directly owns 35,176 shares in the company, valued at approximately $2,973,427.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 35,176 shares in the company, valued at approximately $2,973,427.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,053 shares of company stock worth $4,602,880. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BC. BNP Paribas reaffirmed a “neutral” rating and issued a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Stifel Nicolaus increased their price target on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Morgan Stanley reduced their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. B. Riley raised Brunswick from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $108.00 in a report on Tuesday, February 20th. Finally, Roth Mkm reissued a “buy” rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.83.

About Brunswick

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.