BRP (TSE:DOO) Cut to Neutral at CIBC

CIBC cut shares of BRP (TSE:DOO) from an outperform rating to a neutral rating in a research note issued to investors on Monday morning, BayStreet.CA reports. CIBC currently has C$92.00 price objective on the stock, down from their prior price objective of C$100.00.

DOO has been the topic of several other reports. National Bank Financial lowered BRP from a strong-buy rating to a hold rating in a research note on Tuesday, August 20th. Scotiabank cut shares of BRP from an outperform rating to a sector perform rating and reduced their price target for the company from C$103.00 to C$91.00 in a research report on Monday. TD Securities dropped their price objective on shares of BRP from C$100.00 to C$98.00 and set a hold rating for the company in a research report on Monday, June 3rd. Stifel Nicolaus cut their target price on shares of BRP from C$97.00 to C$82.00 in a research note on Monday. Finally, Royal Bank of Canada decreased their price target on shares of BRP from C$108.00 to C$99.00 in a research report on Monday. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of C$96.00.

BRP Stock Performance

Shares of DOO stock opened at C$82.71 on Monday. The firm has a market capitalization of C$2.95 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 2.05 and a beta of 2.33. The company has a 50 day moving average price of C$92.56 and a 200 day moving average price of C$91.30. BRP has a one year low of C$77.42 and a one year high of C$108.01. The company has a debt-to-equity ratio of 461.35, a quick ratio of 0.20 and a current ratio of 1.35.

BRP (TSE:DOO) last released its quarterly earnings data on Friday, September 6th. The company reported C$0.61 EPS for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.31. BRP had a return on equity of 94.59% and a net margin of 5.83%. The business had revenue of C$1.84 billion during the quarter, compared to the consensus estimate of C$1.85 billion. Sell-side analysts anticipate that BRP will post 8.3681507 EPS for the current year.

BRP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, September 27th. BRP’s dividend payout ratio (DPR) is currently 11.28%.

About BRP

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.