Brunswick Corporation (BC) Receives “Buy” Rating from Robert W. Baird
Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada restated a buy rating and issued a $65.00 target price on shares of Brunswick Corporation in a research note on Sunday, June 11th. BidaskClub upgraded Brunswick Corporation from a hold rating to a buy rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded 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. Northcoast Research cut Brunswick Corporation from a buy rating to a neutral rating in a research note on Monday, July 10th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a buy rating and issued a $72.00 target price on shares of Brunswick Corporation in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $65.93.
Shares of Brunswick Corporation (BC) opened at 53.04 on Friday. The company has a market capitalization of $4.71 billion, a P/E ratio of 16.83 and a beta of 1.82. Brunswick Corporation has a one year low of $42.02 and a one year high of $63.82. The firm has a 50-day moving average price of $54.54 and a 200-day moving average price of $58.17.
Brunswick Corporation (NYSE:BC) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.02. Brunswick Corporation had a return on equity of 23.35% and a net margin of 6.13%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $1.17 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Brunswick Corporation will post $4.05 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, August 18th. Brunswick Corporation’s payout ratio is 20.95%.
In other Brunswick Corporation news, Chairman Mark D. Schwabero sold 3,289 shares of Brunswick Corporation stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $63.73, for a total value of $209,607.97. Following the completion of the sale, the chairman now owns 219,799 shares of the company’s stock, valued at approximately $14,007,790.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark D. Schwabero sold 2,738 shares of Brunswick Corporation stock in a transaction on Friday, July 14th. The stock was sold at an average price of $63.72, for a total value of $174,465.36. Following the completion of the sale, the chairman now directly owns 219,783 shares of the company’s stock, valued at approximately $14,004,572.76. The disclosure for this sale can be found here. In the last three months, insiders sold 51,439 shares of company stock valued at $3,258,968. Corporate insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Boston Partners grew its holdings in shares of Brunswick Corporation by 3.8% in the second quarter. Boston Partners now owns 9,306,042 shares of the company’s stock worth $583,768,000 after acquiring an additional 338,212 shares during the period. BlackRock Inc. grew its holdings in shares of Brunswick Corporation by 0.9% in the second quarter. BlackRock Inc. now owns 7,553,692 shares of the company’s stock worth $473,842,000 after acquiring an additional 65,605 shares during the period. Vanguard Group Inc. grew its holdings in shares of Brunswick Corporation by 1.1% in the second quarter. Vanguard Group Inc. now owns 7,234,542 shares of the company’s stock worth $453,822,000 after acquiring an additional 76,262 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Brunswick Corporation by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 2,926,645 shares of the company’s stock worth $179,110,000 after acquiring an additional 275,751 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of Brunswick Corporation by 4.8% in the first quarter. Schroder Investment Management Group now owns 2,293,970 shares of the company’s stock worth $140,345,000 after acquiring an additional 104,107 shares during the period. 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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