Brunswick Co. (NYSE:BC – Get Rating) – B. Riley cut their Q3 2022 earnings per share estimates for shares of Brunswick in a report issued on Friday, July 29th. B. Riley analyst E. Wold now forecasts that the company will post earnings of $2.57 per share for the quarter, down from their previous forecast of $2.59. B. Riley has a “Buy” rating and a $101.00 price target on the stock. The consensus estimate for Brunswick’s current full-year earnings is $10.16 per share. B. Riley also issued estimates for Brunswick’s Q4 2022 earnings at $2.35 EPS, FY2022 earnings at $10.27 EPS, Q1 2023 earnings at $2.85 EPS, Q3 2023 earnings at $2.98 EPS, Q4 2023 earnings at $2.79 EPS and FY2023 earnings at $11.99 EPS.
Brunswick (NYSE:BC – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Brunswick had a return on equity of 35.51% and a net margin of 9.79%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.52 EPS.
Brunswick Stock Performance
Shares of BC stock opened at $80.12 on Monday. The stock has a market capitalization of $6.07 billion, a PE ratio of 10.45 and a beta of 1.56. Brunswick has a 52-week low of $61.89 and a 52-week high of $108.51. The stock’s 50-day moving average price is $70.61 and its 200 day moving average price is $80.42. The company has a quick ratio of 1.09, a current ratio of 2.10 and a debt-to-equity ratio of 1.26.
Institutional Investors Weigh In On Brunswick
A number of institutional investors and hedge funds have recently modified their holdings of BC. National Bank of Canada FI purchased a new stake in Brunswick in the 4th quarter valued at approximately $25,000. Covestor Ltd purchased a new stake in Brunswick in the 4th quarter valued at approximately $32,000. Financial Management Professionals Inc. purchased a new stake in Brunswick in the 1st quarter valued at approximately $26,000. UMB Bank N A MO purchased a new stake in Brunswick in the 4th quarter valued at approximately $42,000. Finally, Quent Capital LLC purchased a new stake in Brunswick in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
Brunswick Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 24th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, August 23rd. Brunswick’s dividend payout ratio is currently 19.04%.
Brunswick Company Profile
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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