BRP Inc. to Issue Quarterly Dividend of $0.15 (NASDAQ:DOOO)

BRP Inc. (NASDAQ:DOOO) announced a quarterly dividend on Thursday, September 5th, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.152 per share on Friday, October 11th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, September 27th.

BRP has raised its dividend payment by an average of 87.0% annually over the last three years. BRP has a dividend payout ratio of 9.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect BRP to earn $6.03 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 10.3%.

BRP Stock Down 4.8 %

BRP stock traded down $3.17 during mid-day trading on Friday, reaching $62.91. The stock had a trading volume of 496,617 shares, compared to its average volume of 121,989. BRP has a one year low of $57.15 and a one year high of $79.84. The company has a 50-day moving average price of $68.18 and a two-hundred day moving average price of $67.02. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 11.38 and a beta of 2.07. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.35 and a quick ratio of 0.46.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. BRP had a net margin of 5.87% and a return on equity of 101.72%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. On average, analysts expect that BRP will post 4.33 EPS for the current fiscal year.

Analyst Ratings Changes

DOOO has been the topic of a number of research analyst reports. CIBC lowered their price target on BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a report on Monday, June 3rd. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Citigroup increased their price objective on shares of BRP from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.75.

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.