Brunswick Corporation (BC) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Brunswick Corporation (NYSE:BC) from a sell rating to a hold rating in a report released on Friday.
According to Zacks, “Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land ‘N’ Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. “
Several other equities research analysts have also commented on BC. BMO Capital Markets reiterated a buy rating and issued a $72.00 price objective on shares of Brunswick Corporation in a research report on Thursday, July 13th. Stifel Nicolaus boosted their price objective on shares of Brunswick Corporation from $66.00 to $68.00 and gave the stock a buy rating in a research report on Friday, July 14th. Jefferies Group LLC reiterated a hold rating and issued a $56.00 price objective on shares of Brunswick Corporation in a research report on Friday, July 14th. BidaskClub lowered shares of Brunswick Corporation from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Finally, B. Riley reiterated a buy rating and issued a $70.00 price objective on shares of Brunswick Corporation in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $62.50.
Brunswick Corporation (NYSE:BC) traded down $0.03 during trading hours on Friday, hitting $48.81. 974,000 shares of the stock were exchanged, compared to its average volume of 1,041,557. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.81. Brunswick Corporation has a fifty-two week low of $46.70 and a fifty-two week high of $63.82. The firm has a market cap of $4,282.77, a PE ratio of 12.95, a PEG ratio of 0.78 and a beta of 1.87.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). Brunswick Corporation had a return on equity of 22.71% and a net margin of 5.93%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. analysts forecast that Brunswick Corporation will post 3.86 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be given a $0.19 dividend. This is an increase from Brunswick Corporation’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, November 20th. This represents a $0.76 annualized dividend and a yield of 1.56%. Brunswick Corporation’s dividend payout ratio (DPR) is 21.29%.
A number of large investors have recently modified their holdings of the business. Boston Partners grew its position in Brunswick Corporation by 3.8% in the second quarter. Boston Partners now owns 9,306,042 shares of the company’s stock valued at $583,768,000 after acquiring an additional 338,212 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Brunswick Corporation by 0.9% during the 2nd quarter. BlackRock Inc. now owns 7,553,692 shares of the company’s stock valued at $473,842,000 after buying an additional 65,605 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Brunswick Corporation by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,234,542 shares of the company’s stock valued at $453,822,000 after buying an additional 76,262 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Brunswick Corporation by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,928,462 shares of the company’s stock valued at $162,382,000 after buying an additional 120,485 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Brunswick Corporation by 12.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,191,300 shares of the company’s stock valued at $122,647,000 after buying an additional 240,600 shares during the last quarter. 93.43% of the stock is owned by institutional investors.
About Brunswick Corporation
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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