Brunswick (NYSE:BC) Shares Up 14.2%

Brunswick Co. (NYSE:BC)’s stock price shot up 14.2% during trading on Wednesday . The company traded as high as $31.55 and last traded at $35.55, 555,944 shares traded hands during trading. A decline of 50% from the average session volume of 1,114,849 shares. The stock had previously closed at $31.14.

A number of research firms have recently commented on BC. Raymond James raised shares of Brunswick from a “market perform” rating to an “outperform” rating and set a $74.00 price objective for the company in a report on Tuesday, February 18th. Zacks Investment Research downgraded shares of Brunswick from a “buy” rating to a “hold” rating in a report on Thursday. Wells Fargo & Co reaffirmed a “buy” rating on shares of Brunswick in a report on Friday, December 6th. Royal Bank of Canada downgraded shares of Brunswick from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $70.00 to $44.00 in a report on Monday, March 16th. Finally, B. Riley reduced their price objective on shares of Brunswick from $80.00 to $53.00 and set a “buy” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $60.39.

The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -24.51, a PEG ratio of 0.59 and a beta of 1.81. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.74 and a current ratio of 1.62. The business’s 50-day moving average is $50.52 and its 200-day moving average is $55.84.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, January 30th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $917.60 million during the quarter, compared to analysts’ expectations of $905.55 million. Brunswick had a negative net margin of 3.02% and a positive return on equity of 25.89%. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. Equities research analysts expect that Brunswick Co. will post 5.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, February 25th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, February 24th. Brunswick’s dividend payout ratio (DPR) is currently 22.17%.

In related news, VP Christopher F. Dekker sold 3,025 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $64.73, for a total transaction of $195,808.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP increased its position in Brunswick by 63.5% in the 4th quarter. First Trust Advisors LP now owns 83,779 shares of the company’s stock valued at $5,025,000 after acquiring an additional 32,534 shares in the last quarter. Diversified Trust Co increased its position in Brunswick by 55.4% in the 4th quarter. Diversified Trust Co now owns 19,615 shares of the company’s stock valued at $1,177,000 after acquiring an additional 6,990 shares in the last quarter. Millennium Management LLC acquired a new stake in Brunswick in the 3rd quarter valued at about $2,540,000. Public Employees Retirement System of Ohio increased its position in Brunswick by 18.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 47,195 shares of the company’s stock valued at $2,460,000 after acquiring an additional 7,389 shares in the last quarter. Finally, Credit Suisse AG increased its position in Brunswick by 61.6% in the 4th quarter. Credit Suisse AG now owns 88,500 shares of the company’s stock valued at $5,308,000 after acquiring an additional 33,728 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

About Brunswick (NYSE:BC)

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.

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