Fintel reports that on July 14, 2023, Truist Securities maintained coverage of Brunswick (NYSE:BC) with a Buy recommendation.
Analyst Price Forecast Suggests 24.80% Upside
As of July 6, 2023, the average one-year price target for Brunswick is 104.70. The forecasts range from a low of 91.91 to a high of $128.10. The average price target represents an increase of 24.80% from its latest reported closing price of 83.89.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Brunswick is 7,300MM, an increase of 6.41%. The projected annual non-GAAP EPS is 10.81.
Brunswick Declares $0.40 Dividend
On May 3, 2023 the company declared a regular quarterly dividend of $0.40 per share ($1.60 annualized). Shareholders of record as of May 15, 2023 received the payment on June 15, 2023. Previously, the company paid $0.40 per share.
At the current share price of $83.89 / share, the stock's dividend yield is 1.91%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.65%, the lowest has been 1.01%, and the highest has been 3.56%. The standard deviation of yields is 0.36 (n=236).
The current dividend yield is 0.71 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.18. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.67%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 900 funds or institutions reporting positions in Brunswick. This is an increase of 22 owner(s) or 2.51% in the last quarter. Average portfolio weight of all funds dedicated to BC is 0.28%, an increase of 11.87%. Total shares owned by institutions decreased in the last three months by 1.10% to 77,617K shares. 
The put/call ratio of BC is 1.93, indicating a bearish outlook.
What are Other Shareholders Doing?
Cantillon Capital Management holds 4,146K shares representing 5.86% ownership of the company. In it's prior filing, the firm reported owning 4,213K shares, representing a decrease of 1.62%. The firm increased its portfolio allocation in BC by 7.65% over the last quarter.
Massachusetts Financial Services holds 3,430K shares representing 4.85% ownership of the company. In it's prior filing, the firm reported owning 3,540K shares, representing a decrease of 3.21%. The firm increased its portfolio allocation in BC by 8.07% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,237K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 2,239K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in BC by 8.77% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,201K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 2,201K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in BC by 5.04% over the last quarter.
Kensico Capital Management holds 2,105K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 2,164K shares, representing a decrease of 2.78%. The firm increased its portfolio allocation in BC by 3.35% over the last quarter.
Brunswick Background Information
(This description is provided by the company.)
Headquartered in Mettawa, Ill., Brunswick Corporation's leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick, and Whale marine parts; Land 'N' Sea, BLA, Payne's Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Heyday, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, Freedom Boat Club, NAUTIC-ON, OnBoard Boating Club and Rentals.
Additional reading:
- METTAWA, Ill. (June 13, 2023)
- Power of Attorney authorizing certain persons to sign this Registration Statement on behalf of certain directors of the Company.
- Amended and Restated Certificate of Incorporation of the Company, dated May 3, 2023.
- Brunswick Reports First Quarter Results Continued Robust Operating Performance Drives Outstanding First Quarter Results First Quarter GAAP Diluted EPS of $1.56 and As Adjusted Diluted EPS of $2.57 Reiterating 2023 Guidance: Adjusted Diluted EPS Range
- Three Months Ended Net Sales Operating Earnings (Loss) April 2, 2022 April 2, 2022 Propulsion $ 705.9 $ 125.3 Engine Parts & Accessories 330.3 61.0 Navico Group 311.6 30.6 Boat 492.8 45.3 Corporate/Other — (22.7) Segment Eliminations (144.9) — Total
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
