DA Davidson Weighs in on Brunswick Co.’s Q2 2023 Earnings (NYSE:BC)

Posted by Defense World Staff on Jul 18th, 2023

Brunswick Co. (NYSE:BC – Free Report) – Analysts at DA Davidson issued their Q2 2023 earnings per share estimates for shares of Brunswick in a note issued to investors on Monday, July 17th. DA Davidson analyst B. Rolle forecasts that the company will post earnings of $2.68 per share for the quarter. The consensus estimate for Brunswick’s current full-year earnings is $10.36 per share.

Brunswick (NYSE:BC – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. Brunswick had a return on equity of 36.65% and a net margin of 8.97%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.53 EPS.

Other equities analysts have also recently issued reports about the stock. Citigroup decreased their price objective on shares of Brunswick from $106.00 to $100.00 in a research report on Monday, June 26th. Raymond James decreased their price objective on Brunswick from $100.00 to $94.00 in a report on Friday, April 28th. StockNews.com initiated coverage on shares of Brunswick in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. KeyCorp initiated coverage on shares of Brunswick in a research report on Wednesday, April 19th. They issued an “overweight” rating and a $100.00 target price for the company. Finally, Truist Financial lowered their price target on Brunswick from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Brunswick Stock Up 0.9 %

BC opened at $84.63 on Tuesday. The stock has a market capitalization of $5.98 billion, a P/E ratio of 10.20 and a beta of 1.54. Brunswick has a one year low of $64.55 and a one year high of $93.15. The business’s 50-day simple moving average is $81.98 and its 200-day simple moving average is $82.28. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.81 and a current ratio of 1.86.

Institutional Trading of Brunswick

Several institutional investors and hedge funds have recently made changes to their positions in BC. Ruedi Wealth Management Inc. bought a new position in Brunswick during the fourth quarter worth $31,000. Fred Alger Management LLC purchased a new position in Brunswick in the 1st quarter worth approximately $40,000. Bartlett & Co. LLC boosted its stake in shares of Brunswick by 246.7% in the 2nd quarter. Bartlett & Co. LLC now owns 520 shares of the company’s stock valued at $45,000 after purchasing an additional 370 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Brunswick by 104.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 520 shares of the company’s stock valued at $36,000 after purchasing an additional 266 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Brunswick during the 2nd quarter valued at $46,000. Institutional investors own 93.12% of the company’s stock.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 327 shares of Brunswick stock in a transaction on Monday, May 1st. The shares were sold at an average price of $86.23, for a total value of $28,197.21. Following the transaction, the director now directly owns 20,499 shares in the company, valued at $1,767,628.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Brunswick news, VP Brenna Preisser sold 1,309 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $76.21, for a total value of $99,758.89. Following the sale, the vice president now directly owns 52,174 shares in the company, valued at $3,976,180.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nancy E. Cooper sold 327 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $86.23, for a total value of $28,197.21. Following the completion of the transaction, the director now directly owns 20,499 shares in the company, valued at $1,767,628.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,636 shares of company stock valued at $1,186,156. Insiders own 0.74% of the company’s stock.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were issued a $0.40 dividend. The ex-dividend date was Friday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.89%. Brunswick’s dividend payout ratio is currently 19.28%.

About Brunswick

(Get Free Report)

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.