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

BRP Inc. (NASDAQ:DOOO) announced a quarterly dividend on Wednesday, March 27th, investing.com reports. Investors of record on Monday, April 8th will be given a dividend of 0.1545 per share on Monday, April 22nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, April 5th.

BRP has raised its dividend by an average of 67.1% annually over the last three years.

BRP Stock Performance

NASDAQ DOOO opened at $67.10 on Friday. The stock has a market capitalization of $5.09 billion, a PE ratio of 7.82 and a beta of 2.12. BRP has a 1-year low of $57.15 and a 1-year high of $92.74. The business has a 50 day simple moving average of $65.24 and a two-hundred day simple moving average of $68.77. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.40 and a quick ratio of 0.41.

Institutional Trading of BRP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOOO. Invesco Ltd. grew its stake in shares of BRP by 103.1% during the first quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock valued at $65,671,000 after buying an additional 407,545 shares during the last quarter. Norges Bank bought a new position in BRP in the 4th quarter valued at $28,986,000. FIL Ltd increased its stake in BRP by 1,031.7% in the fourth quarter. FIL Ltd now owns 361,967 shares of the company’s stock worth $25,902,000 after purchasing an additional 329,982 shares during the period. Morgan Stanley boosted its stake in shares of BRP by 100.4% during the third quarter. Morgan Stanley now owns 628,044 shares of the company’s stock valued at $47,643,000 after purchasing an additional 314,625 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of BRP in the first quarter worth about $19,626,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group cut shares of BRP from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet cut shares of BRP from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Finally, UBS Group downgraded BRP from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $129.88.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.