BRP Inc. (NASDAQ:DOOO) to Issue Quarterly Dividend of $0.16

BRP Inc. (NASDAQ:DOOO) declared a quarterly dividend on Friday, May 30th, Wall Street Journal reports. Investors of record on Monday, June 30th will be paid a dividend of 0.1557 per share on Monday, July 14th. This represents a $0.62 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, June 30th. This is a 3.2% increase from BRP’s previous quarterly dividend of $0.15.

BRP has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BRP to earn $3.43 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 18.4%.

BRP Price Performance

NASDAQ:DOOO opened at $48.40 on Friday. The stock has a 50 day moving average of $40.46 and a two-hundred day moving average of $42.66. BRP has a 12 month low of $31.78 and a 12 month high of $74.00. The firm has a market cap of $3.53 billion, a P/E ratio of -118.05 and a beta of 1.23. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. BRP had a positive return on equity of 54.71% and a negative net margin of 0.55%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, analysts expect that BRP will post 3.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DOOO. Citigroup reaffirmed a “neutral” rating and set a $51.00 target price (up previously from $43.00) on shares of BRP in a research note on Monday, June 16th. Raymond James Financial restated a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Baird R W downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. UBS Group dropped their target price on BRP from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, TD Securities raised BRP from a “hold” rating to a “strong-buy” rating in a report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Investors Weigh In On BRP

Several large investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of BRP in the 1st quarter valued at $70,000. Dynamic Technology Lab Private Ltd acquired a new stake in BRP during the 1st quarter worth $207,000. Jones Financial Companies Lllp grew its position in BRP by 28,660.0% during the 1st quarter. Jones Financial Companies Lllp now owns 21,570 shares of the company’s stock worth $729,000 after purchasing an additional 21,495 shares during the last quarter. Jane Street Group LLC grew its position in BRP by 110.9% during the 1st quarter. Jane Street Group LLC now owns 138,051 shares of the company’s stock worth $4,663,000 after purchasing an additional 72,581 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in BRP by 144.4% in the first quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company’s stock valued at $24,460,000 after purchasing an additional 427,434 shares during the period.

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.