Zacks Investment Research downgraded shares of Brunswick (NYSE:BC) from a buy rating to a hold rating in a research note released on Monday morning.
According to Zacks, “Brunswick Corporation endeavors to instill Genuine Ingenuity in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. “
Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Brunswick from a hold rating to a buy rating in a research report on Friday, September 7th. B. Riley increased their price target on shares of Brunswick to $90.00 and gave the company a buy rating in a research report on Tuesday, July 3rd. Imperial Capital increased their price target on shares of Brunswick from $78.00 to $90.00 and gave the company an outperform rating in a research report on Monday, July 9th. KeyCorp increased their price target on shares of Brunswick from $75.00 to $77.00 and gave the company an overweight rating in a research report on Friday, July 27th. Finally, Jefferies Financial Group reiterated a hold rating and set a $60.00 target price on shares of Brunswick in a report on Friday, July 27th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Brunswick has a consensus rating of Buy and an average price target of $74.31.
Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, October 25th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. Brunswick had a return on equity of 24.14% and a net margin of 2.38%. As a group, equities research analysts expect that Brunswick will post 4.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 20th will be paid a $0.21 dividend. This is a positive change from Brunswick’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, November 19th. This represents a $0.84 dividend on an annualized basis and a yield of 1.58%. Brunswick’s dividend payout ratio (DPR) is presently 19.54%.
In related news, insider John C. Pfeifer sold 5,446 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $66.95, for a total value of $364,609.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Brunswick by 0.8% during the second quarter. BlackRock Inc. now owns 7,444,902 shares of the company’s stock valued at $480,045,000 after buying an additional 60,692 shares during the period. Voya Investment Management LLC boosted its stake in Brunswick by 84.5% during the second quarter. Voya Investment Management LLC now owns 2,873,040 shares of the company’s stock worth $185,254,000 after acquiring an additional 1,315,663 shares in the last quarter. FMR LLC boosted its stake in Brunswick by 30.3% during the second quarter. FMR LLC now owns 2,704,125 shares of the company’s stock worth $174,362,000 after acquiring an additional 628,227 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Brunswick by 2.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,153,885 shares of the company’s stock worth $138,882,000 after purchasing an additional 42,128 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Brunswick by 10.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,807,647 shares of the company’s stock worth $113,593,000 after purchasing an additional 173,637 shares in the last quarter. Institutional investors and hedge funds own 95.42% of the company’s stock.
Brunswick Company Profile
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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