Brunswick (NYSE:BC) Issues FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.500-4.500 for the period, compared to the consensus estimate of 5.230. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion. Brunswick also updated its FY24 guidance to ~$4.50 EPS.

Brunswick Price Performance

Shares of Brunswick stock opened at $80.76 on Friday. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The firm has a market cap of $5.46 billion, a P/E ratio of 15.01 and a beta of 1.51. The firm’s 50-day simple moving average is $80.28 and its 200-day simple moving average is $79.09.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. During the same period in the previous year, the company posted $2.35 earnings per share. The company’s quarterly revenue was down 15.2% on a year-over-year basis. As a group, research analysts expect that Brunswick will post 5.26 EPS for the current fiscal year.

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s payout ratio is 31.23%.

Analyst Upgrades and Downgrades

BC has been the topic of several research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday, July 25th. Benchmark reissued a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday. Robert W. Baird decreased their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Stifel Nicolaus cut their price target on Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.23.

Insider Transactions at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the transaction, the director now owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is owned by corporate 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.