Q3 2024 EPS Estimates for Brunswick Co. Decreased by B. Riley (NYSE:BC)

Brunswick Co. (NYSE:BC) – Research analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for shares of Brunswick in a research report issued to clients and investors on Thursday, April 25th. B. Riley analyst E. Wold now anticipates that the company will post earnings per share of $2.47 for the quarter, down from their prior estimate of $2.52. B. Riley has a “Buy” rating and a $108.00 price target on the stock. The consensus estimate for Brunswick’s current full-year earnings is $7.43 per share. B. Riley also issued estimates for Brunswick’s Q4 2024 earnings at $1.89 EPS, FY2024 earnings at $7.59 EPS, Q1 2025 earnings at $1.98 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.61 EPS, Q4 2025 earnings at $2.10 EPS and FY2025 earnings at $9.02 EPS.

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

A number of other brokerages also recently weighed in on BC. Raymond James downgraded Brunswick from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Truist Financial dropped their target price on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. DA Davidson restated a “neutral” rating and set a $77.00 price target on shares of Brunswick in a report on Friday, March 15th. Stifel Nicolaus upped their price objective on shares of Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Morgan Stanley decreased their target price on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.83.

Brunswick Price Performance

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

Institutional Investors Weigh In On Brunswick

A number of hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Brunswick by 140.4% in the third quarter. FMR LLC now owns 3,435,357 shares of the company’s stock worth $271,393,000 after acquiring an additional 2,006,578 shares during the last quarter. American Century Companies Inc. boosted its holdings in Brunswick by 0.5% in the 3rd quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock valued at $155,794,000 after purchasing an additional 9,465 shares during the period. Dimensional Fund Advisors LP grew its position in Brunswick by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock worth $185,483,000 after purchasing an additional 47,053 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Brunswick by 32.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $110,712,000 after purchasing an additional 278,082 shares during the period. Finally, Van Berkom & Associates Inc. raised its position in shares of Brunswick by 25.7% during the third quarter. Van Berkom & Associates Inc. now owns 899,980 shares of the company’s stock valued at $71,098,000 after buying an additional 184,088 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,696 shares of company stock valued at $4,574,199. Insiders own 0.81% of the company’s stock.

Brunswick Increases Dividend

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

Brunswick Company Profile

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.