Brunswick Co. (NYSE:BC) Plans Dividend Increase – $0.43 Per Share

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.43 per share on Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 2.65%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42.

Brunswick has raised its dividend payment by an average of 9.6% per year over the last three years and has raised its dividend every year for the last 12 years. Brunswick has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brunswick to earn $5.36 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 31.3%.

Brunswick Trading Up 1.1 %

NYSE BC opened at $64.95 on Friday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 34.18 and a beta of 1.54. Brunswick has a 52 week low of $62.64 and a 52 week high of $96.65. The business has a 50 day moving average price of $67.73 and a 200-day moving average price of $75.76. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same quarter in the prior year, the business earned $1.45 earnings per share. As a group, equities analysts expect that Brunswick will post 4.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Nancy E. Cooper sold 433 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following the sale, the director now owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Roth Mkm decreased their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 24th. Citigroup decreased their price target on Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Truist Financial decreased their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley upped their price target on Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, B. Riley upgraded Brunswick to a “hold” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.85.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.