BRP Inc. (NASDAQ:DOOO) to Issue $0.15 Quarterly Dividend

BRP Inc. (NASDAQ:DOOO) announced a quarterly dividend on Thursday, September 5th, Zacks reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.152 per share on Friday, October 11th. This represents a $0.61 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Friday, September 27th.

BRP has raised its dividend payment by an average of 87.0% per year over the last three years. BRP has a dividend payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BRP to earn $6.03 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 10.3%.

BRP Stock Down 4.8 %

Shares of DOOO opened at $62.91 on Friday. The business’s 50 day moving average is $68.18 and its 200 day moving average is $67.02. The company has a current ratio of 1.35, a quick ratio of 0.46 and a debt-to-equity ratio of 4.23. BRP has a 12-month low of $57.15 and a 12-month high of $79.84. The company has a market capitalization of $4.66 billion, a PE ratio of 11.38 and a beta of 2.07.

BRP (NASDAQ:DOOO) last released its earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. BRP had a net margin of 5.87% and a return on equity of 101.72%. Research analysts expect that BRP will post 4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DOOO shares. CIBC reduced their target price on BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a report on Monday, June 3rd. Citigroup lifted their price objective on BRP from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, National Bank Financial downgraded shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, BRP presently has an average rating of “Moderate Buy” and an average target price of $122.75.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.