Shares of Brunswick Co. (NYSE:BC – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $94.21.
Several brokerages recently issued reports on BC. BMO Capital Markets cut their price target on Brunswick from $122.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. Jefferies Financial Group cut their price objective on Brunswick from $94.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, September 19th. Morgan Stanley reduced their price target on shares of Brunswick from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. B. Riley reduced their target price on shares of Brunswick from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $91.00 target price on shares of Brunswick in a research report on Tuesday, September 19th.
Brunswick Stock Performance
Brunswick (NYSE:BC – Get Free Report) last posted its earnings results on Thursday, October 26th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.66 billion. Brunswick had a return on equity of 32.09% and a net margin of 7.57%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.67 earnings per share. As a group, equities research analysts anticipate that Brunswick will post 9 EPS for the current year.
Brunswick Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 22nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. Brunswick’s dividend payout ratio (DPR) is currently 22.79%.
In other news, Director Nancy E. Cooper sold 414 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $68.57, for a total transaction of $28,387.98. Following the completion of the transaction, the director now directly owns 21,887 shares in the company, valued at $1,500,791.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Brunswick
A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC boosted its stake in Brunswick by 6.6% during the first quarter. Advisory Services Network LLC now owns 2,187 shares of the company’s stock valued at $179,000 after buying an additional 136 shares during the period. Savant Capital LLC boosted its stake in shares of Brunswick by 2.4% during the first quarter. Savant Capital LLC now owns 6,077 shares of the company’s stock valued at $498,000 after purchasing an additional 141 shares during the period. Panagora Asset Management Inc. increased its position in shares of Brunswick by 5.4% in the second quarter. Panagora Asset Management Inc. now owns 2,819 shares of the company’s stock valued at $244,000 after acquiring an additional 144 shares during the period. Industrial Alliance Investment Management Inc. grew its position in shares of Brunswick by 10.3% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,590 shares of the company’s stock worth $130,000 after buying an additional 149 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in shares of Brunswick by 4.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,645 shares of the company’s stock valued at $288,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. 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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