BMO Capital Markets reaffirmed their buy rating on shares of Brunswick Corporation (NYSE:BC) in a report published on Thursday, July 13th. The brokerage currently has a $72.00 price objective on the stock.
BC has been the topic of a number of other reports. Zacks Investment Research upgraded Brunswick Corporation from a hold rating to a buy rating and set a $71.00 price target on the stock in a report on Thursday, June 29th. Stifel Nicolaus reiterated an outperform rating and set a $65.00 price target (up from $64.00) on shares of Brunswick Corporation in a report on Friday, April 14th. Jefferies Group LLC restated a hold rating and issued a $56.00 target price on shares of Brunswick Corporation in a research note on Friday, March 31st. Royal Bank Of Canada restated a buy rating and issued a $65.00 target price on shares of Brunswick Corporation in a research note on Sunday, June 11th. Finally, Northcoast Research lowered Brunswick Corporation from a buy rating to a neutral rating in a research note on Monday, July 10th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Brunswick Corporation currently has an average rating of Buy and a consensus price target of $65.82.
Shares of Brunswick Corporation (NYSE:BC) opened at 55.96 on Thursday. The stock has a 50 day moving average of $61.23 and a 200-day moving average of $59.19. Brunswick Corporation has a 52-week low of $42.02 and a 52-week high of $63.82. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 17.75 and a beta of 1.81.
Brunswick Corporation (NYSE:BC) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.02. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. Brunswick Corporation’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. On average, equities research analysts predict that Brunswick Corporation will post $4.05 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, August 18th. Brunswick Corporation’s dividend payout ratio (DPR) is presently 20.95%.
In other news, insider John C. Pfeifer sold 2,346 shares of Brunswick Corporation stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $58.26, for a total value of $136,677.96. Following the completion of the transaction, the insider now directly owns 44,488 shares in the company, valued at $2,591,870.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Metzger sold 559 shares of Brunswick Corporation stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $62.50, for a total value of $34,937.50. Following the completion of the transaction, the insider now owns 115,673 shares of the company’s stock, valued at $7,229,562.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,785 shares of company stock valued at $3,395,646. 1.00% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Boston Partners boosted its position in Brunswick Corporation by 3.8% in the second quarter. Boston Partners now owns 9,306,042 shares of the company’s stock valued at $583,768,000 after buying an additional 338,212 shares during the last quarter. BlackRock Inc. boosted its position in Brunswick Corporation by 8,617.9% in the first quarter. BlackRock Inc. now owns 7,488,087 shares of the company’s stock valued at $458,271,000 after buying an additional 7,402,194 shares during the last quarter. Vanguard Group Inc. boosted its position in Brunswick Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 7,158,280 shares of the company’s stock valued at $438,086,000 after buying an additional 457,104 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Brunswick Corporation by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 2,926,645 shares of the company’s stock valued at $179,110,000 after buying an additional 275,751 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Brunswick Corporation by 4.8% in the first quarter. Schroder Investment Management Group now owns 2,293,970 shares of the company’s stock valued at $140,345,000 after buying an additional 104,107 shares during the last quarter. Institutional investors and hedge funds own 99.69% of the company’s stock.
About Brunswick Corporation
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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