Stock News Buzz: Brunswick Corporation (NYSE: BC)

 Brunswick Corporation (NYSE: BC) spotted trading -34.27% off 52-week high price. On the other end, the stock has been noted 11.87% away from the low price over the last 52-weeks. The stock changed 3.38% to recent value of $45.89. The stock transacted 1760690 shares during most recent day however it has an average volume of 1192.26K shares. The company has 87.45M of outstanding shares and 86.03M shares were floated in the market.  

 Brunswick Corporation (NYSE: BC) announced that it has completed the previously announced sale of its Fitness business to KPS Capital Partners, LP, a private investment firm, in an all-cash transaction for approximately $490 million.

With the sale of the Fitness business, Brunswick’s focus is now solely on its unique and formidable marine platform, Brunswick Chief Executive Officer David M. Foulkes said.  Our impressive stable of recognized and respected brands across marine engines, parts and accessories, boats and marine services is uniquely positioned in growing and emerging market segments.  Brunswick is well positioned as the leader in the marine industry, and we are excited about our clarity of purpose and the bright future ahead of us.  The closing of this transaction also enables us to advance our previously discussed capital strategy objectives, including re-engaging in share repurchases upon the opening of the trading window subsequent to our second quarter earnings announcement.

Brunswick had more than $4 billion annual revenue from its marine products and services in 2018.

Citi served as the exclusive financial advisor and Cravath, Swaine & Moore LLP served as legal counsel to Brunswick on the transaction.   Its earnings per share (EPS) expected to touch remained 20.80% for this year while earning per share for the next 5-years is expected to reach at 15.00%. BC has a gross margin of 25.70% and an operating margin of 4.50% while its profit margin remained 3.00% for the last 12 months. 

 According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 3.25% from the mean of 20 days, -3.33% from mean of 50 days SMA and performed -11.70% from mean of 200 days price. Company’s performance for the week was -2.47%, 7.60% for month and YTD performance remained -1.21%.

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