Brunswick Co. (NYSE: BC) sees strong growth in short-term interest
Brunswick Co. (NYSE: BC) was the target of a sharp increase in short-term interest during the month of June. As of June 15, there was short interest totaling 2,260,000 shares, an increase of 36.1% from the May 31 total of 1,660,000 shares. Based on an average daily volume of 675,200 shares, the short-term interest rate is currently 3.3 days. About 2.9% of the shares in the stock are sold short.
A number of research companies recently commented on British Columbia. Citigroup Inc. Russell-based minimum 3% coupon principal changed Brunswick from a ‘neutral’ to a ‘buy’ rating and raised its price target for the company to 94.00 $ to $ 125 in a report released on Monday April 26. Truist Securities lowered its price target on Brunswick from $ 125 to $ 120.00 and set a “buy” rating on the security in a report released on Thursday, June 17th. BNP Paribas started covering Brunswick in a report on Monday, June 14. They issued an “outperformance” rating and a target price of $ 125 for the stock. B. Riley raised his Brunswick price target from $ 122.00 to $ 135 and gave the company a “buy” rating in a report released on Friday, April 30. Finally, Truist raised its price target on Brunswick from $ 110.00 to $ 125 in a report released on Friday, April 30. Three analysts rated the stock with a conservation rating and thirteen gave the stock a buy rating. The company has a consensus rating of “Buy” and a consensus target price of $ 114.44.
A number of large investors have recently bought and sold shares of BC. Van ECK Associates Corp bought a new position in Brunswick in the first quarter valued at $ 44,000. Exane Derivatives acquired a new position in Brunswick in the first quarter valued at $ 46,000. Blume Capital Management Inc. acquired a new position in Brunswick in the first quarter valued at $ 48,000. Fort Pitt Capital Group LLC purchased a new position in Brunswick in the fourth quarter valued at $ 58,000. Finally, OLD Second National Bank of Aurora acquired a new stake in Brunswick shares during the first quarter valued at approximately $ 60,000. 92.46% of the shares are currently held by hedge funds and other institutional investors.
Brunswick Action opened for $ 98.65 on Friday. Brunswick has a twelve month low of $ 56.50 and a twelve month high of $ 117.62. The fifty-day moving average for the stock is $ 101.88. The company has a quick ratio of 0.95, a current ratio of 1.63, and a debt ratio of 0.55. The stock has a market cap of $ 7.68 billion, a price-to-earnings ratio of 16.52 and a beta of 1.87.
Brunswick (NYSE: BC) last released its quarterly earnings data on Wednesday, April 28. The company reported earnings per share of $ 2.24 for the quarter, beating analyst consensus estimates of $ 1.46 by $ 0.78. Brunswick had a return on equity of 33.75% and a net margin of 9.82%. The company posted revenue of $ 1.43 billion for the quarter, compared to analysts’ estimates of $ 1.21 billion. In the same quarter of the previous year, the company achieved earnings per share of $ 0.96. The company’s revenue grew 48.4% year-over-year. On average, equity research analysts predict Brunswick will post 7.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 15. Investors of record on Tuesday, May 18 received a dividend of $ 0.335. This represents an annualized dividend of $ 1.34 and a return of 1.36%. The ex-dividend date was Monday, May 17. This is a positive change from Brunswick’s previous quarterly dividend of $ 0.27. Brunswick’s dividend payout ratio is 26.43%.
Brunswick Company Profile
Brunswick Corporation designs, manufactures and markets leisure products around the world. It works by Propulsion; Parts & Accessories; and boat segments. The Propulsion segment supplies outboard, sterndrive and inboard motors to independent boat builders and governments through marine product dealers and distributors, marine specialty retailers and service centers maritime; and propulsion-related controls, rigging and propellers to original equipment manufacturers and aftermarket retailers, distributors and distribution companies.
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