BRP Inc. (NASDAQ:DOOO) Announces Quarterly Dividend of C$0.22

BRP Inc. (NASDAQ:DOOO) declared a quarterly dividend on Wednesday, December 3rd. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.215 per share on Wednesday, January 14th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 31st.

BRP has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 2 years. BRP has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect BRP to earn $3.43 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 17.8%.

BRP Trading Up 6.4%

DOOO traded up $4.52 during trading on Thursday, hitting $75.29. 1,223,849 shares of the company’s stock were exchanged, compared to its average volume of 232,699. BRP has a 1 year low of $31.78 and a 1 year high of $78.07. The stock has a 50 day moving average price of $65.25 and a 200 day moving average price of $56.71. The firm has a market cap of $5.50 billion, a P/E ratio of -313.71 and a beta of 1.26. The company has a current ratio of 1.34, a quick ratio of 0.55 and a debt-to-equity ratio of 5.54.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DOOO shares. CIBC raised BRP from a “neutral” rating to a “sector outperform” rating in a research report on Tuesday, September 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of BRP in a report on Wednesday, October 8th. Loop Capital began coverage on shares of BRP in a research report on Thursday, November 13th. They issued a “buy” rating for the company. Citigroup raised shares of BRP from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $73.00 in a research report on Wednesday, October 1st. Finally, Cibc World Mkts upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.60.

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.