Brunswick (NYSE:BC) Sets New 1-Year High at $59.17

Brunswick Co. (NYSE:BC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.17 and last traded at $57.05, with a volume of 248496 shares changing hands. The stock had previously closed at $57.54.

A number of research analysts have issued reports on BC shares. JPMorgan Chase & Co. cut Brunswick from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $61.00 to $46.00 in a report on Monday, July 22nd. Zacks Investment Research raised Brunswick from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Wednesday, September 25th. Northcoast Research lowered Brunswick from a “buy” rating to a “neutral” rating and set a $45.31 target price for the company. in a research note on Thursday, June 27th. KeyCorp raised their target price on Brunswick from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada lowered Brunswick from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $55.00 to $47.00 in a research note on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $58.74.

The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.72. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.98 and a quick ratio of 1.19. The stock has a 50 day moving average price of $52.36 and a two-hundred day moving average price of $48.47.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, July 25th. The company reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a return on equity of 26.56% and a net margin of 3.10%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. Sell-side analysts forecast that Brunswick Co. will post 4.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 19th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Brunswick’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, November 18th. Brunswick’s dividend payout ratio (DPR) is presently 17.61%.

In related news, CFO William Metzger sold 15,517 shares of Brunswick stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $53.77, for a total value of $834,349.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Intercontinental Wealth Advisors LLC bought a new position in Brunswick during the third quarter worth about $55,000. Steward Partners Investment Advisory LLC bought a new position in Brunswick during the second quarter worth about $66,000. AdvisorNet Financial Inc boosted its holdings in Brunswick by 63.4% during the second quarter. AdvisorNet Financial Inc now owns 1,546 shares of the company’s stock worth $71,000 after buying an additional 600 shares during the last quarter. Signaturefd LLC boosted its holdings in Brunswick by 95.3% during the second quarter. Signaturefd LLC now owns 2,049 shares of the company’s stock worth $94,000 after buying an additional 1,000 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in Brunswick during the second quarter worth about $124,000. Hedge funds and other institutional investors own 96.49% of the company’s stock.

About Brunswick (NYSE:BC)

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, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.

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