Brunswick (NYSE:BC) Updates FY 2023 Earnings Guidance

Brunswick (NYSE:BC) updated its FY 2023 earnings guidance on Tuesday. The company provided EPS guidance of $9.50-$9.50 for the period, compared to the consensus EPS estimate of $9.48. The company issued revenue guidance of $6.70 billion-$6.80 billion, compared to the consensus revenue estimate of $6.71 billion. Brunswick also updated its FY 2027 guidance to $15.00-$15.00 EPS.

Brunswick Trading Down 1.4 %

Shares of BC opened at $76.32 on Tuesday. The stock’s 50-day moving average price is $82.78 and its 200 day moving average price is $82.10. The company has a quick ratio of 0.85, a current ratio of 1.92 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 10.03 and a beta of 1.56. Brunswick has a 12-month low of $64.55 and a 12-month high of $93.15.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.03. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Brunswick had a return on equity of 33.86% and a net margin of 8.21%. Brunswick’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 earnings per share. As a group, research analysts predict that Brunswick will post 9.5 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $1.60 annualized dividend and a yield of 2.10%. Brunswick’s dividend payout ratio is currently 21.02%.

Wall Street Analysts Forecast Growth

BC has been the subject of several recent analyst reports. Truist Financial dropped their price objective on Brunswick from $105.00 to $100.00 and set a buy rating for the company in a research note on Friday, July 14th. JPMorgan Chase & Co. cut shares of Brunswick from an overweight rating to a neutral rating and decreased their price objective for the stock from $109.00 to $79.00 in a research note on Monday, September 11th. StockNews.com initiated coverage on shares of Brunswick in a research report on Thursday, August 17th. They set a buy rating on the stock. Stifel Nicolaus cut their price objective on shares of Brunswick from $106.00 to $102.00 and set a buy rating on the stock in a report on Thursday, July 20th. Finally, BMO Capital Markets cut their target price on shares of Brunswick from $122.00 to $105.00 and set an outperform rating on the stock in a report on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $98.31.

Institutional Investors Weigh In On Brunswick

Large investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its position in Brunswick by 104.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 520 shares of the company’s stock valued at $36,000 after purchasing an additional 266 shares in the last quarter. Fred Alger Management LLC bought a new position in Brunswick in the first quarter valued at $40,000. Neo Ivy Capital Management bought a new position in Brunswick in the second quarter valued at $46,000. International Assets Investment Management LLC bought a new position in Brunswick in the first quarter valued at $52,000. Finally, Covestor Ltd grew its position in Brunswick by 200.3% in the first quarter. Covestor Ltd now owns 961 shares of the company’s stock valued at $78,000 after purchasing an additional 641 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.