Brunswick Corp. (BC) Now Covered by Imperial Capital
Analysts at Imperial Capital initiated coverage on shares of Brunswick Corp. (NYSE:BC) in a research report issued to clients and investors on Tuesday. The firm set an “outperform” rating and a $60.00 price target on the stock. Imperial Capital’s price target indicates a potential upside of 22.50% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. B. Riley reissued a “buy” rating and issued a $65.00 price objective on shares of Brunswick Corp. in a report on Saturday, August 27th. Zacks Investment Research raised Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, August 2nd. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Brunswick Corp. in a report on Saturday, July 2nd. Robert W. Baird reissued an “outperform” rating on shares of Brunswick Corp. in a report on Saturday, June 25th. Finally, Off Wall Street started coverage on Brunswick Corp. in a report on Monday, July 18th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Brunswick Corp. has a consensus rating of “Buy” and a consensus target price of $56.42.
Brunswick Corp. (NYSE:BC) opened at 48.98 on Tuesday. The company has a market cap of $4.42 billion, a P/E ratio of 19.06 and a beta of 1.96. Brunswick Corp. has a 1-year low of $36.05 and a 1-year high of $55.65. The stock has a 50 day moving average price of $47.11 and a 200 day moving average price of $47.47.
Brunswick Corp. (NYSE:BC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities research analysts anticipate that Brunswick Corp. will post $3.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Brunswick Corp.’s payout ratio is currently 23.26%.
In other Brunswick Corp. news, CFO William Metzger sold 19,051 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $49.52, for a total transaction of $943,405.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Mason Street Advisors LLC bought a new stake in Brunswick Corp. during the second quarter worth about $1,873,000. Public Employees Retirement System of Ohio raised its stake in Brunswick Corp. by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 69,553 shares of the company’s stock worth $3,152,000 after buying an additional 962 shares during the period. Calvert Investment Management Inc. raised its stake in Brunswick Corp. by 0.4% in the second quarter. Calvert Investment Management Inc. now owns 59,230 shares of the company’s stock worth $2,684,000 after buying an additional 237 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Brunswick Corp. by 75.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 558,964 shares of the company’s stock worth $25,333,000 after buying an additional 239,747 shares during the period. Finally, Amalgamated Bank raised its stake in Brunswick Corp. by 33.7% in the second quarter. Amalgamated Bank now owns 15,148 shares of the company’s stock worth $755,000 after buying an additional 3,814 shares during the period. Institutional investors and hedge funds own 95.26% of the company’s stock.
Brunswick Corp. Company Profile
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
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