Brunswick Corp. (BC) Receives Buy Rating from Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Brunswick Corp. (NYSE:BC) in a research note issued to investors on Saturday morning. The brokerage currently has a $60.00 target price on the stock.
Other analysts have also issued research reports about the stock. B. Riley reaffirmed a buy rating and set a $65.00 price target on shares of Brunswick Corp. in a research note on Wednesday, August 3rd. Wedbush reaffirmed an outperform rating and set a $60.00 price target on shares of Brunswick Corp. in a research note on Saturday, July 2nd. Zacks Investment Research downgraded shares of Brunswick Corp. from a hold rating to a sell rating in a research note on Tuesday, July 5th. Robert W. Baird reaffirmed an outperform rating and set a $60.00 price target on shares of Brunswick Corp. in a research note on Wednesday, July 6th. Finally, Imperial Capital began coverage on shares of Brunswick Corp. in a research note on Tuesday, September 27th. They set an outperform rating and a $60.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $56.69.
Brunswick Corp. (NYSE:BC) opened at 48.05 on Friday. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 18.70 and a beta of 1.98. The company has a 50-day moving average of $47.49 and a 200-day moving average of $47.66. Brunswick Corp. has a 52 week low of $36.05 and a 52 week high of $55.65.
Brunswick Corp. (NYSE:BC) last issued its earnings results on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Brunswick Corp. had a net margin of 5.58% and a return on equity of 22.51%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Brunswick Corp. will post $3.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Friday, August 19th. Brunswick Corp.’s payout ratio is 23.26%.
A number of large investors have recently bought and sold shares of BC. Silvercrest Asset Management Group LLC acquired a new position in shares of Brunswick Corp. during the first quarter worth about $35,811,000. JPMorgan Chase & Co. boosted its position 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 worth $79,374,000 after buying an additional 623,844 shares in the last quarter. AXA acquired a new position in shares of Brunswick Corp. during the first quarter worth about $24,679,000. Boston Partners boosted its position in shares of Brunswick Corp. by 9.9% in the second quarter. Boston Partners now owns 5,533,911 shares of the company’s stock worth $250,796,000 after buying an additional 499,837 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Brunswick Corp. by 13.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,487,571 shares of the company’s stock worth $167,334,000 after buying an additional 424,611 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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