Zacks Investment Research upgraded shares of Brunswick (NYSE:BC) from a hold rating to a buy rating in a report released on Wednesday morning. The brokerage currently has $72.00 price objective on the stock.
According to Zacks, “Brunswick Corporation endeavors to instill Genuine Ingenuity in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. “
A number of other equities research analysts also recently issued reports on BC. ValuEngine downgraded shares of Brunswick from a buy rating to a hold rating in a report on Wednesday, February 28th. KeyCorp set a $75.00 price target on shares of Brunswick and gave the stock a buy rating in a report on Thursday, March 1st. Wedbush reissued a positive rating and issued a $60.91 price target (down from $70.00) on shares of Brunswick in a report on Friday, March 2nd. Robert W. Baird reissued an outperform rating and issued a $80.00 price target (up from $72.00) on shares of Brunswick in a report on Friday, March 2nd. Finally, Northcoast Research set a $69.00 price target on shares of Brunswick and gave the stock a buy rating in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $70.86.
Brunswick opened at $64.48 on Wednesday, according to Marketbeat.com. Brunswick has a 52 week low of $48.04 and a 52 week high of $69.27. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.84. The company has a current ratio of 1.73, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29.
Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.07. Brunswick had a net margin of 3.26% and a return on equity of 23.33%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. analysts anticipate that Brunswick will post 4.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Tuesday, May 22nd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, May 21st. Brunswick’s dividend payout ratio (DPR) is 4.88%.
In related news, insider William Metzger sold 13,530 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $67.42, for a total value of $912,192.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark D. Schwabero sold 15,237 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $67.45, for a total transaction of $1,027,735.65. Following the completion of the transaction, the chairman now owns 307,614 shares in the company, valued at $20,748,564.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,270 shares of company stock worth $2,988,288. 1.00% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Brunswick by 0.4% during the first quarter. BlackRock Inc. now owns 7,384,210 shares of the company’s stock valued at $438,548,000 after acquiring an additional 30,133 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Brunswick by 128.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,006,453 shares of the company’s stock valued at $166,017,000 after acquiring an additional 1,689,317 shares during the last quarter. TimesSquare Capital Management LLC grew its position in Brunswick by 12.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,468,150 shares of the company’s stock valued at $136,291,000 after acquiring an additional 276,850 shares during the last quarter. Millennium Management LLC grew its position in Brunswick by 61.8% during the first quarter. Millennium Management LLC now owns 2,123,873 shares of the company’s stock valued at $126,137,000 after acquiring an additional 811,545 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Brunswick by 315.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,093,746 shares of the company’s stock valued at $60,397,000 after acquiring an additional 830,300 shares during the last quarter. Institutional investors own 94.57% of the company’s stock.
Brunswick Company Profile
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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