Brunswick (NYSE:BC) PT Lowered to $88.00 at Citigroup

Brunswick (NYSE:BC) had its price objective cut by Citigroup from $100.00 to $88.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. Benchmark initiated coverage on shares of Brunswick in a report on Wednesday, May 22nd. They issued a buy rating and a $100.00 target price on the stock. Truist Financial reduced their target price on shares of Brunswick from $95.00 to $90.00 and set a buy rating on the stock in a report on Monday. Roth Mkm reaffirmed a buy rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday, April 25th. 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. Finally, DA Davidson reaffirmed a neutral rating and set a $77.00 price objective on shares of Brunswick in a research note on Friday, March 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $90.46.

Brunswick Price Performance

Brunswick stock opened at $71.24 on Monday. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The firm’s 50-day simple moving average is $77.05 and its 200 day simple moving average is $84.41. The firm has a market capitalization of $4.81 billion, a PE ratio of 13.24 and a beta of 1.52.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. Brunswick’s quarterly revenue was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. On average, equities research analysts predict that Brunswick will post 7.39 EPS for the current fiscal year.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, May 13th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Buying and Selling

In related news, VP Brenna Preisser sold 1,225 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were 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 owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the transaction, the director now owns 23,211 shares in the company, valued at approximately $1,864,771.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the transaction, the vice president now owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

A number of institutional investors and hedge funds have recently bought and sold shares of BC. Advisors Asset Management Inc. boosted its stake in shares of Brunswick by 8.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,254 shares of the company’s stock valued at $573,000 after buying an additional 537 shares during the last quarter. Verity Asset Management Inc. purchased a new position in shares of Brunswick during the 3rd quarter valued at approximately $278,000. Neo Ivy Capital Management purchased a new position in shares of Brunswick during the 3rd quarter valued at approximately $1,071,000. American Century Companies Inc. boosted its stake in shares of Brunswick by 0.5% during the 3rd quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock valued at $155,794,000 after buying an additional 9,465 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Brunswick by 8.3% during the 3rd quarter. Citigroup Inc. now owns 9,723 shares of the company’s stock valued at $768,000 after buying an additional 742 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.