Brunswick (NYSE:BC) Stock Gets Price Target Cut from Citigroup

Brunswick (NYSE:BC) had its price objective trimmed by Citigroup from $101.00 to $93.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley set a $74.00 price objective on shares of Brunswick in a research report on Monday, October 26th. Truist Financial dropped their price objective on shares of Brunswick from $94.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Brunswick in a report on Monday, September 21st. William Blair set a $94.00 target price on Brunswick in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada set a $66.00 target price on Brunswick in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.75.

Brunswick Stock Performance

Brunswick stock opened at $81.26 on Monday. The company has a market cap of $5.27 billion, a PE ratio of 25.16 and a beta of 1.40. The company has a fifty day moving average price of $68.82 and a two-hundred day moving average price of $77.32. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.51 and a quick ratio of 0.62. Brunswick has a 12 month low of $59.06 and a 12 month high of $90.25.

Brunswick (NYSE:BC) last released its earnings results on Thursday, October 29th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.23. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. Brunswick had a net margin of 3.69% and a return on equity of 17.51%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Research analysts expect that Brunswick will post 4.66 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 24th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, November 24th. Brunswick’s dividend payout ratio (DPR) is presently 54.49%.

Hedge Funds Weigh In On Brunswick

Several hedge funds and other institutional investors have recently modified their holdings of BC. BlackRock Inc. acquired a new stake in Brunswick in the 2nd quarter valued at approximately $568,461,000. Dimensional Fund Advisors LP raised its stake in Brunswick by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,931,104 shares of the company’s stock valued at $213,253,000 after acquiring an additional 82,689 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Brunswick during the 2nd quarter valued at $101,201,000. Bank of America Corp DE boosted its position in Brunswick by 296.1% during the 1st quarter. Bank of America Corp DE now owns 872,368 shares of the company’s stock worth $63,474,000 after acquiring an additional 652,136 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Brunswick during the 2nd quarter worth $40,211,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Company Profile

Brunswick Corporation (NYSE:BC) is a marine recreation company that designs, manufactures and distributes products used in boating and related recreational activities. Its portfolio includes marine propulsion systems, boats, engines, electronics, boat control systems and other components, as well as parts and accessories.

The company’s marine businesses include Mercury Marine, which produces outboard, sterndrive and inboard engines, and a range of boat brands such as Boston Whaler, Sea Ray, Bayliner, Lund, Harris and Princecraft.