Brunswick’s (BC) Buy Rating Reaffirmed at Truist Financial

Posted by on Sep 20th, 2023

Truist Financial restated their buy rating on shares of Brunswick (NYSE:BC – Free Report) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $100.00 price target on the stock.

Several other analysts have also recently weighed in on BC. Stifel Nicolaus dropped their price target on Brunswick from $102.00 to $92.00 in a report on Tuesday. StockNews.com initiated coverage on Brunswick in a report on Thursday, August 17th. They set a buy rating for the company. B. Riley dropped their price target on Brunswick from $108.00 to $106.00 in a report on Friday, July 28th. Roth Mkm reaffirmed a buy rating and issued a $91.00 price objective on shares of Brunswick in a report on Tuesday. Finally, JPMorgan Chase & Co. cut Brunswick from an overweight rating to a neutral rating and dropped their price objective for the company from $109.00 to $79.00 in a report on Monday, September 11th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Brunswick currently has a consensus rating of Moderate Buy and a consensus target price of $96.57.

Check Out Our Latest Stock Report on BC

Brunswick Stock Performance

Shares of NYSE BC opened at $77.29 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 0.85 and a debt-to-equity ratio of 1.15. Brunswick has a 12 month low of $64.55 and a 12 month high of $93.15. The stock has a 50 day moving average of $82.57 and a 200-day moving average of $82.02. The company has a market capitalization of $5.47 billion, a P/E ratio of 10.16 and a beta of 1.56.

Brunswick (NYSE:BC – Get Free Report) last issued its earnings results on Thursday, July 27th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.32 by $0.03. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.75 billion. Brunswick had a return on equity of 33.86% and a net margin of 8.21%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.82 EPS. As a group, equities research analysts predict that Brunswick will post 9.5 EPS for the current year.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 23rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Brunswick’s dividend payout ratio (DPR) is currently 21.02%.

Hedge Funds Weigh In On Brunswick

A number of institutional investors have recently modified their holdings of BC. Virginia Retirement Systems ET AL bought a new stake in Brunswick during the 2nd quarter worth $1,152,000. Teachers Retirement System of The State of Kentucky grew its position in Brunswick by 0.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 141,554 shares of the company’s stock worth $12,265,000 after acquiring an additional 1,226 shares during the last quarter. Nuveen Asset Management LLC grew its position in Brunswick by 7.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 380,890 shares of the company’s stock worth $33,000,000 after acquiring an additional 25,886 shares during the last quarter. Castleark Management LLC grew its position in Brunswick by 92.1% during the 2nd quarter. Castleark Management LLC now owns 53,130 shares of the company’s stock worth $4,603,000 after acquiring an additional 25,470 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in Brunswick during the 2nd quarter worth $278,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

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.

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