Q3 2016 EPS Estimates for Brunswick Corp. (BC) Reduced by Wedbush
Brunswick Corp. (NYSE:BC) – Equities research analysts at Wedbush reduced their Q3 2016 earnings per share estimates for Brunswick Corp. in a report issued on Monday. Wedbush analyst J. Hardiman now expects that the firm will post earnings per share of $0.90 for the quarter, down from their previous estimate of $0.91. Wedbush currently has a “Outperform” rating and a $60.00 target price on the stock.
Brunswick Corp. (NYSE:BC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year.
Several other research firms have also recently issued reports on BC. B. Riley reiterated a “buy” rating and set a $65.00 price objective on shares of Brunswick Corp. in a research report on Monday, August 22nd. Off Wall Street started coverage on shares of Brunswick Corp. in a research report on Monday, July 18th. They issued a “sell” rating on the stock. Imperial Capital started coverage on shares of Brunswick Corp. in a research report on Tuesday, September 27th. They issued an “outperform” rating and a $60.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price target on shares of Brunswick Corp. in a research report on Saturday. Finally, Zacks Investment Research cut shares of Brunswick Corp. from a “hold” rating to a “sell” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. Brunswick Corp. has an average rating of “Buy” and a consensus target price of $56.69.
Shares of Brunswick Corp. (NYSE:BC) traded up 0.87% during midday trading on Tuesday, reaching $48.53. The company had a trading volume of 147,315 shares. The stock has a market capitalization of $4.38 billion, a PE ratio of 18.88 and a beta of 1.98. Brunswick Corp. has a 52-week low of $36.05 and a 52-week high of $55.65. The company’s 50 day moving average price is $47.56 and its 200 day moving average price is $47.65.
Hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Brunswick Corp. during the second quarter worth $109,000. Advisors Asset Management Inc. acquired a new stake in Brunswick Corp. during the second quarter worth $109,000. World Asset Management Inc raised its stake in 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. BlackRock Japan Co. Ltd raised its stake in Brunswick Corp. by 362.8% in the first quarter. BlackRock Japan Co. Ltd now owns 4,272 shares of the company’s stock worth $205,000 after buying an additional 3,349 shares during the period. Finally, Advisor Group Inc. acquired a new stake in Brunswick Corp. during the second quarter worth $210,000. 95.22% of the stock is owned by institutional investors.
About Brunswick Corp.
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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