In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Brunswick Corporation (NYSE: BC). The company’s shares closed yesterday at $53.02.
Wold said:
“Before the open on Thursday (10/25), Brunswick Corporation (BC) reported 3Q18 results that came in ahead of expectations for both net sales and adjusted EPS. Ahead of the planned separation (spin-off or now sale) of the fitness division, we continue to believe the market position and strengthening underlying trends of the marine engine and boat segments are undervalued by investors—especially with BC well positioned to benefit from continued boat- buyer trends towards higher HP engines and greater engine-to-boat ratios (and BC expected to fix the supply/demand production imbalance with the new engine line next year). With an undervalued marine engine/boat divisions and the fitness division separation to unlock shareholder value, we view the recent decline in BC shares as compelling and are reiterating our Buy rating and unchanged $90 PT.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 9.7% and a 54.2% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Brunswick Corporation has an analyst consensus of Strong Buy, with a price target consensus of $77.
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Based on Brunswick Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.3 billion and net profit of $70 million. In comparison, last year the company had a net profit of $79 million.
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Brunswick Corp. engages in the design, manufacture, and marketing of recreation products, including marine engines, boats, fitness equipment, and active recreation products. It operates through the following segments: Marine Engine, Boat, and Fitness. The Marine segment manufactures and sells recreational marine engines and marine parts and accessories.
