BRP Inc. (NASDAQ:DOOO) Announces $0.15 Quarterly Dividend

BRP Inc. (NASDAQ:DOOO) declared a quarterly dividend on Monday, December 9th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.1485 per share on Tuesday, January 14th. This represents a $0.59 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, December 31st.

BRP has raised its dividend by an average of 87.0% per year over the last three years. BRP has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect BRP to earn $3.60 per share next year, which means the company should continue to be able to cover its $0.61 annual dividend with an expected future payout ratio of 16.9%.

BRP Price Performance

DOOO traded up $1.97 during trading on Monday, hitting $53.39. The company’s stock had a trading volume of 213,517 shares, compared to its average volume of 129,659. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 27.35 and a beta of 2.03. The firm’s 50 day moving average price is $52.22 and its two-hundred day moving average price is $60.91. BRP has a 12 month low of $46.85 and a 12 month high of $75.59.

BRP (NASDAQ:DOOO) last released its quarterly earnings results on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. BRP had a return on equity of 58.01% and a net margin of 2.29%. Sell-side analysts forecast that BRP will post 2.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DOOO. Citigroup dropped their target price on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. UBS Group cut their price target on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $97.00.

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.