Imperial Capital assumed coverage on shares of Brunswick Corp. (NYSE:BC) in a research report sent to investors on Tuesday morning. The firm issued an outperform rating and a $60.00 price target on the stock.
Several other equities analysts have also recently commented on BC. B. Riley reaffirmed a buy rating and issued a $65.00 price target on shares of Brunswick Corp. in a report on Friday, July 29th. Wedbush reaffirmed an outperform rating and issued a $60.00 price target on shares of Brunswick Corp. in a report on Tuesday, June 21st. Robert W. Baird reaffirmed an outperform rating on shares of Brunswick Corp. in a report on Saturday, June 25th. Zacks Investment Research cut Brunswick Corp. from a hold rating to a sell rating in a report on Tuesday, July 5th. Finally, Off Wall Street started coverage on Brunswick Corp. in a report on Monday, July 18th. They issued a sell rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Brunswick Corp. presently has a consensus rating of Buy and an average price target of $56.42.
Shares of Brunswick Corp. (NYSE:BC) traded down 0.75% on Tuesday, hitting $49.00. The stock had a trading volume of 97,292 shares. Brunswick Corp. has a 1-year low of $36.05 and a 1-year high of $55.65. The stock has a market cap of $4.42 billion, a P/E ratio of 19.07 and a beta of 1.96. The firm’s 50-day moving average is $47.12 and its 200 day moving average is $47.45.
Brunswick Corp. (NYSE:BC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. Brunswick Corp. had a return on equity of 22.51% and a net margin of 5.58%. The business earned $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Equities analysts forecast that Brunswick Corp. will post $3.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. Brunswick Corp.’s dividend payout ratio (DPR) is presently 23.26%.
In other Brunswick Corp. news, CFO William Metzger sold 19,051 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $49.52, for a total value of $943,405.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in BC. JPMorgan Chase & Co. raised its position in shares of Brunswick Corp. by 60.5% in the first quarter. JPMorgan Chase & Co. now owns 1,654,292 shares of the company’s stock worth $79,374,000 after buying an additional 623,844 shares during the last quarter. BlackRock Japan Co. Ltd raised its position in shares of Brunswick Corp. by 362.8% in the first quarter. BlackRock Japan Co. Ltd now owns 4,272 shares of the company’s stock worth $205,000 after buying an additional 3,349 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Brunswick Corp. by 13.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,487,571 shares of the company’s stock worth $167,334,000 after buying an additional 424,611 shares during the last quarter. BlackRock Group LTD raised its position in shares of Brunswick Corp. by 10.0% in the first quarter. BlackRock Group LTD now owns 99,493 shares of the company’s stock worth $4,775,000 after buying an additional 9,029 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Brunswick Corp. by 18.4% in the first quarter. BlackRock Inc. now owns 45,763 shares of the company’s stock worth $2,196,000 after buying an additional 7,099 shares during the last quarter. Hedge funds and other institutional investors own 95.26% of the company’s stock.
Brunswick Corp. Company Profile
Brunswick Corporation (Brunswick) is a designer, manufacturer and marketer of recreation products, including marine engines, boats, fitness and active recreation products. The Company operates in three segments, which include Marine Engine, Boat and Fitness. The Marine Engine segment manufactures and markets a range of outboard engines, sterndrive engines, inboard engines and marine parts and accessories, which are principally sold directly to boat builders, including Brunswick’s Boat segment, or through marine retail dealers and distributors across the world.
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