Brunswick Co. (BC) To Go Ex-Dividend on February 24th

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, February 13th, RTT News reports. Investors of record on Monday, February 24th will be paid a dividend of 0.43 per share on Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 24th. This is a boost from Brunswick’s previous quarterly dividend of $0.42.

Brunswick has raised its dividend by an average of 9.6% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Brunswick has a payout ratio of 32.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brunswick to earn $5.35 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 32.1%.

Brunswick Stock Performance

Shares of BC opened at $62.81 on Friday. The company’s 50 day moving average price is $66.37 and its 200 day moving average price is $75.14. Brunswick has a 52 week low of $62.33 and a 52 week high of $96.65. The company has a market capitalization of $4.14 billion, a PE ratio of 33.06 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same period in the prior year, the business earned $1.45 earnings per share. Research analysts expect that Brunswick will post 4.19 EPS for the current fiscal year.

Insider Activity at Brunswick

In other news, Director Nancy E. Cooper sold 433 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the transaction, the director now owns 25,361 shares in the company, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BC shares. Benchmark decreased their target price on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Roth Mkm reduced their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Stifel Nicolaus reduced their price objective on shares of Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Citigroup reduced their price objective on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, B. Riley upgraded shares of Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and an average target price of $81.85.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.