Trade Report: The Brunswick Corp. (BC) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

The Brunswick Corp. (BC) Releases Quarterly  Earnings Results, Misses Expectations By $0.01 EPS

Brunswick Corp. (NYSE:BC) issued its earnings results on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.01. The firm earned $1.09 billion during the quarter, compared to the consensus estimate of $1.11 billion. Brunswick Corp. had a net margin of 5.67% and a return on equity of 22.74%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. Brunswick Corp. updated its FY16 guidance to $3.45-3.50 EPS.

Brunswick Corp. (NYSE:BC) opened at 43.20 on Monday. The company has a 50-day moving average of $47.73 and a 200 day moving average of $47.65. The company has a market cap of $3.94 billion, a P/E ratio of 16.07 and a beta of 1.98. Brunswick Corp. has a 52 week low of $36.05 and a 52 week high of $55.65.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, November 18th. This is an increase from Brunswick Corp.’s previous quarterly dividend of $0.15. Brunswick Corp.’s dividend payout ratio is 22.22%.

A number of brokerages recently commented on BC. B. Riley reiterated a “buy” rating and issued a $65.00 price target on shares of Brunswick Corp. in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Brunswick Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Robert W. Baird reiterated an “outperform” rating and issued a $60.00 price target on shares of Brunswick Corp. in a research note on Wednesday, July 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price target on shares of Brunswick Corp. in a research note on Saturday, October 15th. Finally, Imperial Capital began coverage on shares of Brunswick Corp. in a research note on Tuesday, September 27th. They issued an “outperform” rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.69.

Hedge funds have recently made changes to their positions in the company. World Asset Management Inc raised its stake in shares of Brunswick Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 4,441 shares of the company’s stock valued at $201,000 after buying an additional 12 shares in the last quarter. State Treasurer State of Michigan raised its stake in shares of Brunswick Corp. by 0.3% in the second quarter. State Treasurer State of Michigan now owns 36,400 shares of the company’s stock valued at $1,650,000 after buying an additional 100 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Brunswick Corp. by 0.9% in the second quarter. Brown Advisory Inc. now owns 13,619 shares of the company’s stock valued at $617,000 after buying an additional 119 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Brunswick Corp. by 2.6% in the second quarter. Capstone Asset Management Co. now owns 7,202 shares of the company’s stock valued at $326,000 after buying an additional 180 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of Brunswick Corp. by 1.7% in the first quarter. Aperio Group LLC now owns 12,216 shares of the company’s stock valued at $586,000 after buying an additional 210 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Brunswick Corp. Company Profile

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