Brunswick Corporation (BC) Earns “Buy” Rating from KeyCorp
BC has been the subject of several other reports. Zacks Investment Research raised shares of Brunswick Corporation from a hold rating to a buy rating and set a $71.00 target price for the company in a research note on Thursday, June 29th. BMO Capital Markets lowered their target price on shares of Brunswick Corporation from $72.00 to $68.00 and set an outperform rating for the company in a research note on Friday, July 28th. BidaskClub cut shares of Brunswick Corporation from a sell rating to a strong sell rating in a research note on Friday, August 11th. Forward View set a $60.00 target price on shares of Brunswick Corporation and gave the stock a hold rating in a research note on Sunday, July 30th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $67.00 target price on shares of Brunswick Corporation in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $65.77.
Shares of Brunswick Corporation (BC) opened at 53.03 on Thursday. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 16.82 and a beta of 1.82. Brunswick Corporation has a 52-week low of $42.02 and a 52-week high of $63.82. The stock has a 50 day moving average price of $55.94 and a 200-day moving average price of $58.42.
Brunswick Corporation (NYSE:BC) last released its earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. Brunswick Corporation’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. On average, equities research analysts predict that Brunswick Corporation will post $4.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.66 annualized dividend and a dividend yield of 1.24%. Brunswick Corporation’s dividend payout ratio is presently 20.95%.
In other news, Chairman Mark D. Schwabero sold 3,289 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $63.73, for a total transaction of $209,607.97. Following the completion of the sale, the chairman now directly owns 219,799 shares of the company’s stock, valued at approximately $14,007,790.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Metzger sold 559 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $62.50, for a total transaction of $34,937.50. Following the sale, the insider now directly owns 115,673 shares of the company’s stock, valued at $7,229,562.50. The disclosure for this sale can be found here. Insiders have sold a total of 51,439 shares of company stock valued at $3,258,968 over the last three months. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new stake in shares of Brunswick Corporation during the 2nd quarter valued at $134,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of Brunswick Corporation by 149.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock valued at $160,000 after buying an additional 1,529 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Brunswick Corporation by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock valued at $202,000 after buying an additional 280 shares during the period. Advisor Group Inc. grew its stake in shares of Brunswick Corporation by 2.7% during the 2nd quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock valued at $202,000 after buying an additional 87 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Brunswick Corporation during the 1st quarter valued at $207,000. 94.04% of the stock is owned by institutional investors.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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