Brunswick (NYSE:BC) Releases FY 2024 Earnings Guidance

Brunswick (NYSE:BC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 7.000-8.000 for the period, compared to the consensus estimate of 7.420. The company issued revenue guidance of $6.0 billion-$6.2 billion, compared to the consensus revenue estimate of $6.0 billion. Brunswick also updated its FY24 guidance to $7.00-$8.00 EPS.

Brunswick Stock Performance

Shares of NYSE BC traded down $5.85 during trading hours on Thursday, reaching $80.28. The stock had a trading volume of 484,338 shares, compared to its average volume of 737,999. The business’s fifty day moving average is $89.30 and its two-hundred day moving average is $84.79. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 13.42 and a beta of 1.56. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, February 1st. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The business’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.99 earnings per share. As a group, research analysts expect that Brunswick will post 7.5 EPS for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.42 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, February 23rd. Brunswick’s dividend payout ratio is currently 28.24%.

Wall Street Analyst Weigh In

BC has been the subject of a number of research reports. BNP Paribas restated a neutral rating and issued a $82.00 target price (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. DA Davidson restated a neutral rating and issued a $77.00 target price on shares of Brunswick in a research note on Friday, March 15th. B. Riley upgraded Brunswick from a neutral rating to a buy rating and raised their target price for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. Roth Mkm raised their target price on Brunswick from $85.00 to $94.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Raymond James cut Brunswick from an outperform rating to a market perform rating in a report on Thursday, January 4th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Brunswick presently has an average rating of Moderate Buy and an average target price of $92.08.

Insider Transactions at Brunswick

In other news, CFO Ryan M. Gwillim sold 9,036 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.10, for a total transaction of $787,035.60. Following the sale, the chief financial officer now owns 28,966 shares of the company’s stock, valued at $2,522,938.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan M. Gwillim sold 9,036 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the transaction, the chief financial officer now directly owns 28,966 shares in the company, valued at approximately $2,522,938.60. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock valued at $4,574,199 over the last 90 days. 0.81% of the stock is owned by company insiders.

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.