Roth Mkm reissued their buy rating on shares of Brunswick (NYSE:BC – Free Report) in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a $91.00 price target on the stock.
Several other equities analysts have also issued reports on the company. StockNews.com initiated coverage on Brunswick in a report on Thursday, August 17th. They issued a buy rating for the company. BMO Capital Markets dropped their price objective on Brunswick from $122.00 to $105.00 and set an outperform rating on the stock in a research note on Friday, July 28th. Raymond James dropped their price objective on Brunswick from $90.00 to $88.00 and set an outperform rating on the stock in a research note on Tuesday. Stifel Nicolaus dropped their price objective on Brunswick from $102.00 to $92.00 in a research note on Tuesday. Finally, Truist Financial dropped their price objective on Brunswick from $105.00 to $100.00 and set a buy rating on the stock in a research note on Friday, July 14th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Brunswick currently has a consensus rating of Moderate Buy and a consensus target price of $96.57.
View Our Latest Stock Report on BC
Brunswick Stock Performance
Brunswick (NYSE:BC – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.03. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.75 billion. Brunswick had a return on equity of 33.86% and a net margin of 8.21%. Brunswick’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 earnings per share. As a group, sell-side analysts expect that Brunswick will post 9.5 earnings per share for the current year.
Brunswick Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 23rd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. Brunswick’s dividend payout ratio is currently 21.02%.
Institutional Investors Weigh In On Brunswick
Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in shares of Brunswick in the first quarter worth $52,000. Bank of Montreal Can raised its position in shares of Brunswick by 140.4% in the first quarter. Bank of Montreal Can now owns 41,387 shares of the company’s stock worth $3,496,000 after buying an additional 24,171 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Brunswick by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,255 shares of the company’s stock worth $2,286,000 after buying an additional 2,694 shares in the last quarter. BlackRock Inc. raised its position in shares of Brunswick by 0.7% in the first quarter. BlackRock Inc. now owns 6,426,552 shares of the company’s stock worth $519,843,000 after buying an additional 46,519 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Brunswick by 9.7% in the first quarter. Great West Life Assurance Co. Can now owns 45,006 shares of the company’s stock worth $3,746,000 after buying an additional 3,992 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.
About Brunswick
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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