BRP (NASDAQ:DOOO) Announces Earnings Results

BRP (NASDAQ:DOOO - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04, Zacks reports. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.78 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%.

BRP Price Performance

Shares of BRP stock traded up $3.71 during trading hours on Friday, reaching $44.26. 600,260 shares of the company's stock were exchanged, compared to its average volume of 164,874. The business has a fifty day moving average of $35.51 and a two-hundred day moving average of $42.85. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The company has a market capitalization of $3.23 billion, a P/E ratio of 23.54 and a beta of 1.17. BRP has a 1 year low of $31.78 and a 1 year high of $74.00.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.1557 per share. This is a positive change from BRP's previous quarterly dividend of $0.15. The ex-dividend date is Monday, June 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.41%. BRP's dividend payout ratio is presently -29.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DOOO. Acadian Asset Management LLC acquired a new position in shares of BRP during the 1st quarter valued at about $70,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of BRP during the 1st quarter valued at about $207,000. Jones Financial Companies Lllp boosted its position in shares of BRP by 28,660.0% during the 1st quarter. Jones Financial Companies Lllp now owns 21,570 shares of the company's stock valued at $729,000 after acquiring an additional 21,495 shares during the last quarter. Jane Street Group LLC boosted its position in shares of BRP by 110.9% during the 1st quarter. Jane Street Group LLC now owns 138,051 shares of the company's stock valued at $4,663,000 after acquiring an additional 72,581 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of BRP by 144.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company's stock valued at $24,460,000 after acquiring an additional 427,434 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $43.00 price objective (down from $48.00) on shares of BRP in a report on Friday, April 4th. UBS Group decreased their price objective on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised shares of BRP from a "hold" rating to a "buy" rating in a report on Friday. Baird R W downgraded shares of BRP from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Citigroup raised shares of BRP from a "sell" rating to a "neutral" rating and upped their target price for the stock from $27.00 to $37.00 in a report on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, BRP presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.75.

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.