Brunswick Corp. Forecasted to Earn Q3 2016 Earnings of $0.92 Per Share (BC)
Brunswick Corp. (NYSE:BC) – Equities research analysts at Imperial Capital issued their Q3 2016 earnings per share estimates for Brunswick Corp. in a research note issued on Tuesday. Imperial Capital analyst G. Kelly forecasts that the brokerage will post earnings per share of $0.92 for the quarter. Imperial Capital currently has a “Outperform” rating and a $60.00 target price on the stock. Imperial Capital also issued estimates for Brunswick Corp.’s Q4 2016 earnings at $0.62 EPS, FY2016 earnings at $3.41 EPS, Q1 2017 earnings at $0.89 EPS, Q2 2017 earnings at $1.33 EPS, Q3 2017 earnings at $1.03 EPS, Q4 2017 earnings at $0.72 EPS, FY2017 earnings at $3.98 EPS and FY2018 earnings at $4.59 EPS.
A number of other equities analysts have also issued reports on BC. B. Riley reiterated a “buy” rating and set a $65.00 target price on shares of Brunswick Corp. in a research report on Friday, July 29th. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Brunswick Corp. in a research report on Tuesday, June 21st. Robert W. Baird reiterated an “outperform” rating on shares of Brunswick Corp. in a research report on Saturday, June 25th. Zacks Investment Research lowered shares of Brunswick Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Off Wall Street began coverage on shares of Brunswick Corp. in a research report on Monday, July 18th. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. Brunswick Corp. currently has an average rating of “Buy” and an average price target of $56.42.
Brunswick Corp. (NYSE:BC) opened at 48.78 on Thursday. Brunswick Corp. has a 12 month low of $36.05 and a 12 month high of $55.65. The company has a 50 day moving average price of $47.06 and a 200 day moving average price of $47.50. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 18.98 and a beta of 1.96.
Brunswick Corp. (NYSE:BC) last issued its earnings results on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, August 19th. Brunswick Corp.’s payout ratio is presently 23.26%.
In other Brunswick Corp. news, CFO William Metzger sold 19,051 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $49.52, for a total value of $943,405.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Eagle Asset Management Inc. increased its stake in shares of Brunswick Corp. by 2.2% in the second quarter. Eagle Asset Management Inc. now owns 1,522,663 shares of the company’s stock valued at $69,007,000 after buying an additional 33,288 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Brunswick Corp. during the first quarter valued at approximately $35,811,000. BNP Paribas Arbitrage SA increased its stake in shares of Brunswick Corp. by 11.6% in the second quarter. BNP Paribas Arbitrage SA now owns 35,811 shares of the company’s stock valued at $1,623,000 after buying an additional 3,709 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Brunswick Corp. by 44.2% in the first quarter. Geode Capital Management LLC now owns 890,445 shares of the company’s stock valued at $42,722,000 after buying an additional 272,775 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Brunswick Corp. by 60.5% in the first quarter. JPMorgan Chase & Co. now owns 1,654,292 shares of the company’s stock valued at $79,374,000 after buying an additional 623,844 shares during the last quarter. 95.26% of the stock is owned by hedge funds and other institutional investors.
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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