Brunswick (NYSE:BC) Now Covered by Analysts at Benchmark

Benchmark began coverage on shares of Brunswick (NYSE:BC) in a report published on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $100.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on BC. B. Riley upgraded Brunswick from a neutral rating to a buy rating and upped their target price for the stock from $100.00 to $108.00 in a research note on Tuesday, February 20th. Morgan Stanley reduced their price objective on Brunswick from $91.00 to $86.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. Truist Financial dropped their target price on shares of Brunswick from $115.00 to $105.00 and set a buy rating for the company in a report on Friday, February 2nd. Roth Mkm reaffirmed a buy rating and set a $94.00 price target on shares of Brunswick in a report on Thursday, April 25th. Finally, BNP Paribas reissued a neutral rating and issued a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Brunswick presently has an average rating of Moderate Buy and a consensus price target of $93.38.

Brunswick Stock Performance

NYSE:BC opened at $79.47 on Wednesday. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 14.77 and a beta of 1.60. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. The stock has a fifty day moving average price of $86.50 and a 200-day moving average price of $86.25.

Brunswick (NYSE:BC) last posted its quarterly earnings data 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 firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $2.57 EPS. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. As a group, equities analysts anticipate that Brunswick will post 7.39 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, May 13th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.68 annualized dividend and a dividend yield of 2.11%. Brunswick’s payout ratio is 31.23%.

Insider Transactions at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Nancy E. Cooper sold 357 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the sale, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders sold 36,582 shares of company stock worth $3,178,092 over the last ninety days. 0.81% of the stock is owned by insiders.

Institutional Trading of Brunswick

Several hedge funds have recently modified their holdings of BC. FMR LLC increased its position in Brunswick by 140.4% in the 3rd quarter. FMR LLC now owns 3,435,357 shares of the company’s stock valued at $271,393,000 after buying an additional 2,006,578 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of Brunswick during the first quarter worth approximately $124,840,000. Norges Bank bought a new position in shares of Brunswick in the 4th quarter worth $65,105,000. Victory Capital Management Inc. increased its stake in Brunswick by 127.6% during the 3rd quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock valued at $68,432,000 after purchasing an additional 485,588 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Brunswick during the first quarter worth $38,655,000. Institutional investors own 99.34% 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.