Brunswick Co. to Post Q2 2022 Earnings of $2.64 Per Share, Jefferies Financial Group Forecasts (NYSE:BC)

Brunswick Co. (NYSE:BC – Get Rating) – Stock analysts at Jefferies Financial Group decreased their Q2 2022 EPS estimates for shares of Brunswick in a note issued to investors on Thursday, April 28th. Jefferies Financial Group analyst A. Glaessgen now expects that the company will earn $2.64 per share for the quarter, down from their prior forecast of $2.70. Jefferies Financial Group also issued estimates for Brunswick’s Q3 2022 earnings at $2.76 EPS, Q4 2022 earnings at $2.16 EPS, Q2 2023 earnings at $3.07 EPS, Q3 2023 earnings at $3.14 EPS and Q4 2023 earnings at $2.48 EPS.

Brunswick (NYSE:BC – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.20. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Brunswick had a net margin of 9.79% and a return on equity of 36.17%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.24 earnings per share.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Brunswick from a “buy” rating to a “hold” rating in a research note on Thursday, April 7th. Citigroup cut their target price on shares of Brunswick from $123.00 to $106.00 and set a “buy” rating for the company in a research note on Tuesday, April 19th. Truist Financial cut their target price on shares of Brunswick from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, January 26th. DA Davidson started coverage on shares of Brunswick in a report on Tuesday, April 26th. They issued a “buy” rating and a $96.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on shares of Brunswick from $123.00 to $115.00 in a report on Monday, April 25th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $115.38.

NYSE:BC opened at $75.61 on Monday. Brunswick has a 1 year low of $72.71 and a 1 year high of $117.62. The firm has a 50 day moving average of $84.13 and a 200-day moving average of $92.21. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $5.79 billion, a P/E ratio of 9.86 and a beta of 1.63.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new position in shares of Brunswick during the 4th quarter worth approximately $25,000. Covestor Ltd acquired a new position in shares of Brunswick during the 4th quarter worth approximately $32,000. Financial Management Professionals Inc. bought a new stake in shares of Brunswick during the 1st quarter worth approximately $26,000. UMB Bank N A MO bought a new stake in shares of Brunswick during the 4th quarter worth approximately $42,000. Finally, SouthState Corp bought a new stake in shares of Brunswick during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 93.98% of the company’s stock.

In other Brunswick news, VP Randall S. Altman sold 2,040 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $85.86, for a total transaction of $175,154.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher F. Dekker sold 7,854 shares of the company’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $95.74, for a total transaction of $751,941.96. The disclosure for this sale can be found here. Insiders sold a total of 10,894 shares of company stock worth $1,024,186 over the last ninety days. 0.58% of the stock is currently owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Wednesday, February 23rd were given a $0.365 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.34. This represents a $1.46 annualized dividend and a yield of 1.93%. The ex-dividend date was Tuesday, February 22nd. Brunswick’s payout ratio is currently 19.04%.

About Brunswick (Get Rating)

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.

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