Brunswick Corp. (NYSE:BC) – Investment analysts at Wedbush dropped their Q3 2016 EPS estimates for shares of Brunswick Corp. in a research note issued to investors on Monday. Wedbush analyst J. Hardiman now expects that the brokerage will earn $0.90 per share for the quarter, down from their previous estimate of $0.91. Wedbush has a “Outperform” rating and a $60.00 price target on the stock.
A number of other research firms also recently weighed in on BC. B. Riley reaffirmed a “buy” rating and issued a $65.00 target price on shares of Brunswick Corp. in a research report on Friday, July 29th. Off Wall Street started coverage on shares of Brunswick Corp. in a research report on Monday, July 18th. They set a “sell” rating on the stock. Imperial Capital started coverage on shares of Brunswick Corp. in a research report on Tuesday, September 27th. They set an “outperform” rating and a $60.00 price objective on the stock. Zacks Investment Research raised shares of Brunswick Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Tuesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective on shares of Brunswick Corp. in a research report on Saturday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $56.69.
Shares of Brunswick Corp. (NYSE:BC) opened at 48.34 on Tuesday. The stock’s 50 day moving average is $47.62 and its 200 day moving average is $47.65. The firm has a market capitalization of $4.36 billion, a PE ratio of 18.81 and a beta of 1.98. Brunswick Corp. has a 52-week low of $36.05 and a 52-week high of $55.65.
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 Thomson Reuters’ consensus estimate of $1.18 by $0.01. Brunswick Corp. had a net margin of 5.58% and a return on equity of 22.51%. The company earned $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $1.05 earnings per share. Brunswick Corp.’s revenue for the quarter was up 8.8% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Brunswick Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 6,444,663 shares of the company’s stock valued at $292,073,000 after buying an additional 53,155 shares during the period. Boston Partners raised its stake in Brunswick Corp. by 9.9% in the second quarter. Boston Partners now owns 5,533,911 shares of the company’s stock valued at $250,796,000 after buying an additional 499,837 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in 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 valued at $167,334,000 after buying an additional 424,611 shares in the last quarter. BlackRock Fund Advisors raised its stake in Brunswick Corp. by 3.7% in the second quarter. BlackRock Fund Advisors now owns 3,177,745 shares of the company’s stock valued at $144,015,000 after buying an additional 114,055 shares in the last quarter. Finally, State Street Corp raised its stake in Brunswick Corp. by 1.9% in the second quarter. State Street Corp now owns 2,608,811 shares of the company’s stock valued at $118,232,000 after buying an additional 47,886 shares in the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.37%. This is a boost from Brunswick Corp.’s previous quarterly dividend of $0.15. Brunswick Corp.’s dividend payout ratio is 23.26%.
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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