Brunswick (NYSE:BC) Releases Q3 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.150-1.250 for the period, compared to the consensus estimate of 2.240. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.6 billion. Brunswick also updated its FY 2024 guidance to 5.000-5.500 EPS.

Brunswick Trading Up 7.5 %

Shares of BC traded up $5.51 during trading hours on Thursday, hitting $79.02. The stock had a trading volume of 2,713,967 shares, compared to its average volume of 763,758. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The firm has a market cap of $5.34 billion, a P/E ratio of 14.69 and a beta of 1.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. The company’s fifty day simple moving average is $76.14 and its 200 day simple moving average is $83.20.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. Brunswick’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 earnings per share. Equities research analysts forecast that Brunswick will post 7.18 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s payout ratio is 31.23%.

Analysts Set New Price Targets

A number of research firms have weighed in on BC. Roth Mkm restated a buy rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday. Truist Financial lowered their price target on shares of Brunswick from $95.00 to $90.00 and set a buy rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. cut their price objective on shares of Brunswick from $78.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday. BNP Paribas restated 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. Finally, Citigroup cut their price target on Brunswick from $100.00 to $88.00 and set a buy rating on the stock in a research note on Monday, July 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick currently has an average rating of Moderate Buy and an average target price of $90.00.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 357 shares of the stock in a transaction dated 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 approximately $1,864,771.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Nancy E. Cooper sold 357 shares of the business’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 transaction of $28,681.38. Following the completion of the transaction, the director now directly owns 23,211 shares in the company, valued at $1,864,771.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brenna Preisser sold 1,225 shares of the firm’s 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 completion of the sale, the vice president now owns 58,076 shares in the company, valued at $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

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.