Brunswick (NYSE:BC) Updates FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.500-4.500 for the period, compared to the consensus estimate of 5.230. The company issued revenue guidance of $5.1 billion-$5.2 billion, compared to the consensus revenue estimate of $5.3 billion. Brunswick also updated its FY24 guidance to ~$4.50 EPS.

Brunswick Price Performance

NYSE BC traded up $0.80 during trading on Friday, hitting $80.76. 1,072,833 shares of the stock traded hands, compared to its average volume of 718,152. The company has a market capitalization of $5.46 billion, a P/E ratio of 15.07 and a beta of 1.51. Brunswick has a 12-month low of $66.47 and a 12-month high of $99.68. The firm has a 50-day simple moving average of $80.20 and a 200-day simple moving average of $79.27. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the company earned $2.35 EPS. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, analysts predict that Brunswick will post 5.26 EPS for the current year.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, November 20th. Brunswick’s payout ratio is 31.23%.

Wall Street Analysts Forecast Growth

BC has been the topic of a number of recent research reports. B. Riley decreased their price objective on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Roth Mkm restated a “buy” rating and issued a $94.00 price target on shares of Brunswick in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut their price objective on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird dropped their price target on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Benchmark reissued a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research report on Friday. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Brunswick presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.23.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the sale, the director now owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is owned by insiders.

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.