Brunswick Corp. (BC) Downgraded by Zacks Investment Research
Brunswick Corp. (NYSE:BC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land ‘N’ Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. “
BC has been the topic of several other reports. B. Riley reissued a “buy” rating and issued a $65.00 target price on shares of Brunswick Corp. in a research report on Wednesday, August 3rd. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Brunswick Corp. in a report on Saturday, July 2nd. Robert W. Baird restated an “outperform” rating and issued a $60.00 price target on shares of Brunswick Corp. in a report on Wednesday, July 6th. Imperial Capital initiated coverage on shares of Brunswick Corp. in a report on Tuesday, September 27th. They issued an “outperform” rating and a $60.00 price target on the stock. Finally, Off Wall Street initiated coverage on shares of Brunswick Corp. in a report on Monday, July 18th. They issued a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. Brunswick Corp. currently has an average rating of “Buy” and a consensus target price of $56.42.
Shares of Brunswick Corp. (NYSE:BC) traded down 0.27% on Friday, hitting $48.05. 439,751 shares of the stock traded hands. The firm’s 50-day moving average is $47.45 and its 200 day moving average is $47.65. The firm has a market cap of $4.34 billion, a P/E ratio of 18.70 and a beta of 1.98. Brunswick Corp. has a 12-month low of $36.05 and a 12-month high of $55.65.
Brunswick Corp. (NYSE:BC) last released its earnings results on Thursday, July 28th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. Brunswick Corp. had a net margin of 5.58% and a return on equity of 22.51%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast that Brunswick Corp. will post $3.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. Brunswick Corp.’s dividend payout ratio (DPR) is presently 23.26%.
Several hedge funds have recently modified their holdings of the company. World Asset Management Inc raised its stake in shares of Brunswick Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 4,441 shares of the company’s stock worth $201,000 after buying an additional 12 shares during the period. State Treasurer State of Michigan raised its stake in shares of Brunswick Corp. by 0.3% in the second quarter. State Treasurer State of Michigan now owns 36,400 shares of the company’s stock worth $1,650,000 after buying an additional 100 shares during the period. Brown Advisory Inc. increased its position in Brunswick Corp. by 0.9% in the second quarter. Brown Advisory Inc. now owns 13,619 shares of the company’s stock worth $617,000 after buying an additional 119 shares in the last quarter. Capstone Asset Management Co. increased its position in Brunswick Corp. by 2.6% in the second quarter. Capstone Asset Management Co. now owns 7,202 shares of the company’s stock worth $326,000 after buying an additional 180 shares in the last quarter. Finally, Aperio Group LLC increased its position in Brunswick Corp. by 1.7% in the first quarter. Aperio Group LLC now owns 12,216 shares of the company’s stock worth $586,000 after buying an additional 210 shares in the last quarter. 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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