Brokers Offer Predictions for Brunswick Co.’s Q3 2024 Earnings (NYSE:BC)

Brunswick Co. (NYSE:BC) – Research analysts at B. Riley decreased their Q3 2024 earnings estimates for Brunswick in a note issued to investors on Thursday, April 25th. B. Riley analyst E. Wold now forecasts that the company will post earnings of $2.47 per share for the quarter, down from their prior estimate of $2.52. B. Riley has a “Buy” rating and a $108.00 price objective on the stock. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. B. Riley also issued estimates for Brunswick’s Q4 2024 earnings at $1.89 EPS, FY2024 earnings at $7.59 EPS, Q1 2025 earnings at $1.98 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.61 EPS, Q4 2025 earnings at $2.10 EPS and FY2025 earnings at $9.02 EPS.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company earned $2.57 EPS. The company’s revenue was down 21.7% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley decreased their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday. DA Davidson reaffirmed a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Stifel Nicolaus boosted their target price on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Truist Financial decreased their price target on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Finally, BNP Paribas reiterated a “neutral” rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.83.

Brunswick Stock Up 1.2 %

Brunswick stock opened at $82.09 on Monday. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The business has a fifty day moving average price of $88.94 and a 200-day moving average price of $84.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 15.26 and a beta of 1.56.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were paid a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Buying and Selling

In other news, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the sale, the vice president now owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock valued at $4,574,199 over the last 90 days. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Brunswick

Several hedge funds have recently modified their holdings of the company. Alps Advisors Inc. grew its stake in Brunswick by 224.7% in the 3rd quarter. Alps Advisors Inc. now owns 49,446 shares of the company’s stock valued at $3,906,000 after acquiring an additional 34,220 shares during the period. Victory Capital Management Inc. increased its stake in shares of Brunswick by 127.6% during the third quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock worth $68,432,000 after purchasing an additional 485,588 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Brunswick during the fourth quarter worth about $20,460,000. Envestnet Asset Management Inc. raised its position in shares of Brunswick by 29.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 144,584 shares of the company’s stock worth $11,422,000 after purchasing an additional 32,901 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Brunswick by 10.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 156,596 shares of the company’s stock valued at $12,371,000 after buying an additional 15,042 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

About Brunswick

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.