Q2 2024 Earnings Forecast for Brunswick Co. Issued By Roth Capital (NYSE:BC)

Brunswick Co. (NYSE:BC) – Analysts at Roth Capital reduced their Q2 2024 earnings estimates for Brunswick in a research note issued to investors on Friday, April 26th. Roth Capital analyst S. Stember now expects that the company will earn $1.85 per share for the quarter, down from their prior estimate of $1.91. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. Roth Capital also issued estimates for Brunswick’s FY2024 earnings at $7.20 EPS, Q1 2025 earnings at $1.62 EPS and FY2025 earnings at $8.89 EPS.

A number of other research firms have also weighed in on BC. Morgan Stanley lowered their price objective on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday. Truist Financial dropped their price target on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Roth Mkm restated a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a research report on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Finally, B. Riley raised Brunswick from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $108.00 in a research note on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.83.

Brunswick Trading Up 1.4 %

NYSE:BC opened at $81.08 on Monday. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The company has a current ratio of 1.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock’s 50 day simple moving average is $89.02 and its 200-day simple moving average is $84.93. The firm has a market cap of $5.58 billion, a P/E ratio of 15.07 and a beta of 1.56.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $2.57 EPS. The business’s revenue was down 21.7% on a year-over-year basis.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were paid a dividend of $0.42 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, February 23rd. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. Brunswick’s payout ratio is 31.23%.

Insider Buying and Selling

In other news, CFO Ryan M. Gwillim sold 9,036 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the transaction, the chief financial officer now owns 28,966 shares in the company, valued at $2,522,938.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Brunswick news, CFO Ryan M. Gwillim sold 9,036 shares of Brunswick stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $87.10, for a total transaction of $787,035.60. Following the completion of the transaction, the chief financial officer now owns 28,966 shares in the company, valued at $2,522,938.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock worth $4,574,199 in the last quarter. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Several hedge funds have recently bought and sold shares of BC. Copeland Capital Management LLC grew its holdings in shares of Brunswick by 0.4% during the third quarter. Copeland Capital Management LLC now owns 857,047 shares of the company’s stock worth $67,707,000 after buying an additional 3,513 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Brunswick by 3.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 16,503 shares of the company’s stock worth $1,304,000 after acquiring an additional 535 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Brunswick by 5.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,658 shares of the company’s stock valued at $289,000 after acquiring an additional 205 shares during the last quarter. Tectonic Advisors LLC raised its holdings in Brunswick by 10.3% in the 3rd quarter. Tectonic Advisors LLC now owns 13,036 shares of the company’s stock valued at $1,030,000 after acquiring an additional 1,222 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Brunswick by 40.6% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,101 shares of the company’s stock worth $87,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.