BRP (NASDAQ:DOO) Posts Earnings Results, Beats Estimates By $0.58 EPS

BRP (NASDAQ:DOO) issued its quarterly earnings data on Thursday. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.58, Zacks reports. BRP had a return on equity of 73.67% and a net margin of 3.54%.

BRP Stock Up 1.9%

Shares of NASDAQ:DOO opened at $58.03 on Thursday. The firm’s 50 day simple moving average is $61.64. BRP has a twelve month low of $35.90 and a twelve month high of $81.89. The company has a market cap of $4.28 billion, a P/E ratio of 19.94 and a beta of 0.90. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.56 and a current ratio of 1.27.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, April 10th. This is a positive change from BRP’s previous quarterly dividend of $0.07. BRP’s dividend payout ratio is currently 24.74%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DOO shares. Zacks Research downgraded BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Seaport Research Partners lowered shares of BRP from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. UBS Group reiterated a “neutral” rating on shares of BRP in a research note on Friday, April 24th. Raymond James Financial lowered shares of BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of BRP in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.67.

Hedge Funds Weigh In On BRP

Several large investors have recently bought and sold shares of the stock. Invesco Ltd. acquired a new position in BRP during the 4th quarter valued at $9,701,000. Summit Global Investments acquired a new position in BRP during the 4th quarter valued at $474,000. State of Tennessee Department of Treasury acquired a new position in BRP during the 4th quarter valued at $5,007,000. Mackenzie Financial Corp acquired a new position in BRP during the 4th quarter valued at $207,651,000. Finally, XTX Topco Ltd acquired a new position in BRP during the 4th quarter valued at $361,000.

About BRP

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.