Brunswick (NYSE:BC) Downgraded by StockNews.com to Hold

Posted by on Jun 23rd, 2022

StockNews.com downgraded shares of Brunswick (NYSE:BC – Get Rating) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other research firms have also recently commented on BC. Northcoast Research reissued a neutral rating on shares of Brunswick in a research report on Tuesday, May 17th. Raymond James boosted their target price on shares of Brunswick from $121.00 to $123.00 in a research report on Friday, April 29th. Stifel Nicolaus reduced their target price on shares of Brunswick from $123.00 to $115.00 in a research report on Monday, April 25th. KeyCorp reduced their target price on shares of Brunswick from $115.00 to $100.00 in a research report on Monday, May 2nd. Finally, BMO Capital Markets dropped their price target on shares of Brunswick from $105.00 to $90.00 in a research note on Monday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $108.27.

Shares of BC stock opened at $64.48 on Wednesday. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 8.41 and a beta of 1.56. The company has a quick ratio of 1.09, a current ratio of 2.10 and a debt-to-equity ratio of 1.26. Brunswick has a fifty-two week low of $61.89 and a fifty-two week high of $108.51. The firm’s 50 day moving average price is $73.76 and its two-hundred day moving average price is $85.55.

Brunswick (NYSE:BC – Get Rating) last posted its earnings results on Thursday, April 28th. The company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.20. Brunswick had a net margin of 9.79% and a return on equity of 35.51%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company posted $2.24 earnings per share. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts forecast that Brunswick will post 10.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, May 18th were paid a dividend of $0.365 per share. The ex-dividend date was Tuesday, May 17th. This represents a $1.46 annualized dividend and a yield of 2.26%. Brunswick’s payout ratio is 19.04%.

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new stake in Brunswick during the fourth quarter valued at $25,000. Financial Management Professionals Inc. acquired a new position in shares of Brunswick during the first quarter valued at $26,000. Covestor Ltd acquired a new position in shares of Brunswick during the fourth quarter valued at $32,000. UMB Bank N A MO acquired a new position in shares of Brunswick during the fourth quarter valued at $42,000. Finally, Quent Capital LLC acquired a new position in shares of Brunswick during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 92.75% of the company’s stock.

About Brunswick (Get Rating)

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. 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.

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