Brunswick Corporation (NYSE:BC) had its price objective lowered by BMO Capital Markets from $72.00 to $68.00 in a research report report published on Friday. BMO Capital Markets currently has an outperform rating on the stock.
Several other research firms have also recently weighed in on BC. Jefferies Group LLC reaffirmed a hold rating and set a $56.00 price objective on shares of Brunswick Corporation in a research report on Friday, July 14th. Stifel Nicolaus upped their price objective on shares of Brunswick Corporation from $66.00 to $68.00 and gave the stock a buy rating in a research report on Friday, July 14th. Zacks Investment Research raised shares of Brunswick Corporation from a hold rating to a buy rating and set a $71.00 price objective for the company in a research report on Thursday, June 29th. BidaskClub raised shares of Brunswick Corporation from a buy rating to a strong-buy rating in a research report on Thursday, July 6th. Finally, Northcoast Research cut shares of Brunswick Corporation from a buy rating to a neutral rating in a research report on Monday, July 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Brunswick Corporation currently has an average rating of Buy and an average price target of $66.40.
Shares of Brunswick Corporation (BC) traded down 0.07% during midday trading on Friday, hitting $56.58. 1,165,792 shares of the company were exchanged. The company has a market capitalization of $5.08 billion, a P/E ratio of 17.95 and a beta of 1.84. The company has a 50-day moving average of $61.50 and a 200 day moving average of $59.12. Brunswick Corporation has a one year low of $42.02 and a one year high of $63.82.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. Brunswick Corporation’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Brunswick Corporation will post $4.06 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, August 18th. Brunswick Corporation’s payout ratio is 20.95%.
In other Brunswick Corporation news, insider John C. Pfeifer sold 2,346 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $58.26, for a total transaction of $136,677.96. Following the completion of the transaction, the insider now owns 44,488 shares of the company’s stock, valued at $2,591,870.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William Metzger sold 15,301 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $62.50, for a total value of $956,312.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,785 shares of company stock valued at $3,395,646. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BC. James Investment Research Inc. purchased a new position in Brunswick Corporation during the first quarter valued at about $145,000. Venturi Wealth Management LLC purchased a new position in Brunswick Corporation during the first quarter valued at about $207,000. Envestnet Asset Management Inc. increased its position in Brunswick Corporation by 59.8% in the first quarter. Envestnet Asset Management Inc. now owns 3,932 shares of the company’s stock valued at $240,000 after buying an additional 1,472 shares in the last quarter. Wright Investors Service Inc. increased its position in Brunswick Corporation by 21.4% in the second quarter. Wright Investors Service Inc. now owns 4,190 shares of the company’s stock valued at $263,000 after buying an additional 740 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Brunswick Corporation during the first quarter valued at about $271,000. 99.74% of the stock is owned by institutional investors.
About Brunswick Corporation
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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