Brunswick (BC) got here out with quarterly earnings of $1.35 per share, lacking the Zacks Consensus Estimate of $1.36 per share. This compares to earnings of $2.57 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -0.74%. 1 / 4 in the past, it was anticipated that this boat and sporting items firm would put up earnings of $1.66 per share when it truly produced earnings of $1.45, delivering a shock of -12.65%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates two instances.
Brunswick
The sustainability of the inventory’s instant worth motion primarily based on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
Brunswick shares have misplaced about 11% because the starting of the 12 months versus the S&P 500’s acquire of 6.3%.
What’s Subsequent for Brunswick?
Whereas Brunswick has underperformed the market thus far this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis exhibits a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a powerful monitor file of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Brunswick: combined. Whereas the magnitude and route of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It is going to be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $2.02 on $1.6 billion in revenues for the approaching quarter and $7.50 on $6.08 billion in revenues for the present fiscal 12 months.
Traders must be conscious of the truth that the outlook for the trade can have a cloth impression on the efficiency of the inventory as effectively. When it comes to the Zacks Business Rank, Leisure and Recreation Merchandise is at the moment within the backside 20% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One different inventory from the identical trade, Topgolf Callaway Manufacturers (MODG), is but to report outcomes for the quarter ended March 2024.
This maker of golf tools and equipment is anticipated to put up break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. The consensus EPS estimate for the quarter has been revised 0.3% larger during the last 30 days to the present stage.
Topgolf Callaway Manufacturers’ revenues are anticipated to be $1.15 billion, down 1.3% from the year-ago quarter.
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Brunswick Corporation (BC) : Free Stock Analysis Report
Topgolf Callaway Brands Corp. (MODG) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
