Brunswick (NYSE:BC – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.000-5.500 for the period, compared to the consensus estimate of 7.130. The company issued revenue guidance of $5.2 billion-$5.4 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $5.00-$5.50 EPS.
Analyst Ratings Changes
Several research firms recently commented on BC. BNP Paribas reiterated a neutral rating and set a $82.00 target price (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Truist Financial dropped their price objective on shares of Brunswick from $95.00 to $90.00 and set a buy rating for the company in a research note on Monday, July 8th. B. Riley dropped their price objective on shares of Brunswick from $108.00 to $97.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Roth Mkm restated a buy rating and issued a $94.00 price objective on shares of Brunswick in a research note on Thursday. Finally, Morgan Stanley dropped their price objective on shares of Brunswick from $91.00 to $86.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $90.00.
View Our Latest Stock Report on BC
Brunswick Trading Up 7.5 %
Brunswick (NYSE:BC – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. Equities analysts predict that Brunswick will post 7.18 earnings per share for the current year.
Brunswick Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, August 21st. Brunswick’s payout ratio is 31.23%.
Insider Buying and Selling
In other Brunswick news, VP Brenna Preisser sold 1,225 shares of Brunswick stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the transaction, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the sale, the vice president now directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.
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.
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