BRP Inc. (NASDAQ:DOOO) Raises Dividend to $0.15 Per Share

BRP Inc. (NASDAQ:DOOO) announced a quarterly dividend on Thursday, March 27th, Wall Street Journal reports. Stockholders of record on Friday, April 4th will be paid a dividend of 0.1508 per share on Friday, April 18th. This represents a $0.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, April 4th. This is a 1.5% increase from BRP’s previous quarterly dividend of $0.15.

BRP has increased its dividend by an average of 17.5% per year over the last three years. BRP has a payout ratio of 12.7% indicating that 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 $0.58 annual dividend with an expected future payout ratio of 16.9%.

BRP Trading Down 4.1 %

NASDAQ DOOO opened at $34.00 on Friday. BRP has a 52-week low of $33.05 and a 52-week high of $75.59. The firm has a 50-day moving average price of $42.54 and a 200 day moving average price of $49.56. The stock has a market capitalization of $2.48 billion, a P/E ratio of 18.09 and a beta of 2.03. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.97 billion. Equities research analysts expect that BRP will post 3.15 EPS for the current year.

Analyst Ratings Changes

Separately, Citigroup restated a “sell” rating and set a $27.00 target price (down from $29.00) on shares of BRP in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $87.40.

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.