Brunswick (NYSE:BC) Issues FY24 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of ~$4.50 for the period, compared to the consensus earnings per share estimate of $5.23. The company issued revenue guidance of $5.1-5.2 billion, compared to the consensus revenue estimate of $5.30 billion. Brunswick also updated its FY 2024 guidance to 4.500-4.500 EPS.

Brunswick Trading Up 1.0 %

Shares of Brunswick stock traded up $0.80 on Friday, hitting $80.76. The stock had a trading volume of 1,113,859 shares, compared to its average volume of 718,351. The stock has a 50 day moving average of $80.28 and a 200 day moving average of $79.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68. The firm has a market capitalization of $5.46 billion, a P/E ratio of 15.01 and a beta of 1.51.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business earned $2.35 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. Sell-side analysts expect that Brunswick will post 5.26 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, November 20th. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Wall Street Analysts Forecast Growth

BC has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price target (down from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Benchmark reissued a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, July 29th. Truist Financial dropped their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Robert W. Baird reduced their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Brunswick currently has an average rating of “Moderate Buy” and a consensus target price of $89.23.

Insider Transactions at Brunswick

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