Brunswick Corp. (BC) To Go Ex-Dividend on November 18th
Brunswick Corp. (NYSE:BC) announced a quarterly dividend on Tuesday, October 18th. Shareholders of record on Tuesday, November 22nd will be given a dividend of 0.165 per share on Thursday, December 15th. This represents a $0.66 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 18th. This is a positive change from Brunswick Corp.’s previous quarterly dividend of $0.15.
Shares of Brunswick Corp. (NYSE:BC) opened at 47.34 on Friday. Brunswick Corp. has a 12-month low of $36.05 and a 12-month high of $55.65. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 17.61 and a beta of 1.94. The firm has a 50-day moving average of $46.98 and a 200 day moving average of $47.28.
Brunswick Corp. (NYSE:BC) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.01. Brunswick Corp. had a net margin of 5.67% and a return on equity of 22.74%. The business earned $1.09 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business earned $0.77 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Brunswick Corp. will post $3.47 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of BC. BlackRock Fund Advisors raised its position in Brunswick Corp. by 3.7% in the second quarter. BlackRock Fund Advisors now owns 3,177,745 shares of the company’s stock worth $144,015,000 after buying an additional 114,055 shares in the last quarter. State Street Corp raised its position in shares of Brunswick Corp. by 1.9% in the second quarter. State Street Corp now owns 2,608,811 shares of the company’s stock worth $118,232,000 after buying an additional 47,886 shares during the period. AQR Capital Management LLC raised its position in shares of Brunswick Corp. by 6.2% in the second quarter. AQR Capital Management LLC now owns 1,008,276 shares of the company’s stock worth $45,695,000 after buying an additional 58,908 shares during the period. AXA raised its position in shares of Brunswick Corp. by 1.3% in the second quarter. AXA now owns 521,175 shares of the company’s stock worth $23,620,000 after buying an additional 6,805 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Brunswick Corp. by 23.8% in the second quarter. Teachers Advisors Inc. now owns 412,989 shares of the company’s stock worth $18,717,000 after buying an additional 79,437 shares during the period. Institutional investors own 94.50% of the company’s stock.
Several equities analysts have commented on the stock. B. Riley reissued a “buy” rating and issued a $65.00 price target on shares of Brunswick Corp. in a research report on Wednesday, November 2nd. Zacks Investment Research raised shares of Brunswick Corp. from a “sell” rating to a “hold” rating in a research report on Monday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective on shares of Brunswick Corp. in a research report on Saturday, October 15th. Imperial Capital initiated coverage on shares of Brunswick Corp. in a research report on Tuesday, September 27th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Off Wall Street initiated coverage on shares of Brunswick Corp. in a research report on Monday, July 18th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Brunswick Corp. currently has an average rating of “Buy” and an average target price of $56.69.
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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