Citigroup Cuts BRP (TSE:DOO) Price Target to C$102.00

BRP (TSE:DOO) had its price objective trimmed by Citigroup from C$119.00 to C$102.00 in a research report sent to investors on Monday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

DOO has been the topic of a number of other research reports. Canaccord Genuity Group lowered shares of BRP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$118.00 to C$90.00 in a report on Wednesday, April 15th. BMO Capital Markets increased their price objective on shares of BRP from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a report on Friday, March 27th. Ci Capital decreased their price objective on shares of BRP from C$128.00 to C$119.00 and set a “buy” rating on the stock in a report on Friday, March 27th. National Bank Financial lowered shares of BRP from an “outperform” rating to a “hold” rating and decreased their price objective for the stock from C$125.00 to C$80.00 in a report on Wednesday, April 15th. Finally, Raymond James Financial decreased their price objective on shares of BRP from C$117.00 to C$115.00 in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$105.20.

BRP Stock Down 5.0%

DOO opened at C$77.31 on Monday. The firm’s 50-day simple moving average is C$95.63 and its 200-day simple moving average is C$97.42. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27. BRP has a twelve month low of C$44.98 and a twelve month high of C$112.26. The firm has a market cap of C$5.65 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.05 and a beta of 0.94.

BRP (TSE:DOO) last posted its earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. The business had revenue of C$2.46 billion for the quarter. Equities research analysts anticipate that BRP will post 6.890971 EPS for the current fiscal year.

BRP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, April 10th. BRP’s dividend payout ratio (DPR) is 21.77%.

BRP Company Profile

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).