Brunswick Co. (NYSE:BC) to Issue Quarterly Dividend of $0.42

Brunswick Co. (NYSE:BC) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.42 per share on Friday, June 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, May 10th.

Brunswick has raised its dividend by an average of 17.4% annually over the last three years and has increased its dividend annually for the last 11 consecutive years.

Brunswick Price Performance

Shares of NYSE:BC opened at $81.70 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average price of $88.09 and a 200 day moving average price of $85.27. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 15.19 and a beta of 1.60. Brunswick has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm’s revenue was down 21.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 earnings per share. Research analysts predict that Brunswick will post 7.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the sale, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP John G. Buelow sold 2,426 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the transaction, the executive vice president now owns 14,199 shares in the company, valued at $1,237,016.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the sale, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold a total of 53,053 shares of company stock valued at $4,602,880 over the last 90 days. 0.81% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BC shares. DA Davidson reiterated a “neutral” rating and issued a $77.00 target price on shares of Brunswick in a research note on Friday, March 15th. Roth Mkm restated a “buy” rating and set a $94.00 price objective on shares of Brunswick in a research report on Thursday, April 25th. Morgan Stanley reduced their target price on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. Finally, BNP Paribas reaffirmed a “neutral” rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.83.

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.