BRP (NASDAQ:DOOO) Releases FY 2023 Earnings Guidance

BRP (NASDAQ:DOOOGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided EPS guidance of $8.63-$8.90 for the period, compared to the consensus EPS estimate of $8.53. The company issued revenue guidance of $7.36 billion-$7.65 billion, compared to the consensus revenue estimate of $7.39 billion. BRP also updated its Q3 2023 guidance to $1.70- EPS.

Wall Street Analyst Weigh In

DOOO has been the subject of a number of recent research reports. Desjardins reissued a buy rating on shares of BRP in a research note on Monday, June 6th. Scotiabank lifted their price objective on shares of BRP from C$126.00 to C$127.00 in a research note on Thursday, September 15th. Royal Bank of Canada lifted their price target on shares of BRP from C$113.00 to C$114.00 in a research note on Thursday, September 15th. Stifel Nicolaus dropped their price target on shares of BRP from C$150.00 to C$145.00 in a research note on Monday, June 6th. Finally, Raymond James lifted their price target on shares of BRP from C$135.00 to C$138.00 in a research note on Thursday, September 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $130.92.

BRP Stock Performance

Shares of DOOO stock traded down $2.97 during trading hours on Friday, hitting $62.83. The company’s stock had a trading volume of 6,897 shares, compared to its average volume of 70,492. The company has a 50 day moving average of $72.61 and a 200 day moving average of $72.74. The stock has a market cap of $4.94 billion, a PE ratio of 9.69 and a beta of 2.53. The company has a current ratio of 1.08, a quick ratio of 0.26 and a debt-to-equity ratio of 233.30. BRP has a 12-month low of $57.38 and a 12-month high of $99.05.

BRP (NASDAQ:DOOOGet Rating) last announced its quarterly earnings results on Wednesday, September 14th. The company reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.91. BRP had a net margin of 8.48% and a negative return on equity of 526.63%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm posted $2.35 earnings per share. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts forecast that BRP will post 8.78 EPS for the current fiscal year.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.122 per share. This represents a $0.49 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, September 29th. BRP’s dividend payout ratio is presently 7.69%.

Hedge Funds Weigh In On BRP

A number of large investors have recently added to or reduced their stakes in DOOO. Vanguard Group Inc. raised its position in shares of BRP by 2.6% in the first quarter. Vanguard Group Inc. now owns 1,200,665 shares of the company’s stock valued at $98,202,000 after buying an additional 30,978 shares during the last quarter. Invesco Ltd. boosted its stake in BRP by 103.1% during the first quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock worth $65,671,000 after buying an additional 407,545 shares during the period. Goldman Sachs Group Inc. boosted its stake in BRP by 512.9% during the first quarter. Goldman Sachs Group Inc. now owns 223,490 shares of the company’s stock worth $18,279,000 after buying an additional 187,027 shares during the period. Legal & General Group Plc boosted its stake in BRP by 114.7% during the second quarter. Legal & General Group Plc now owns 145,225 shares of the company’s stock worth $8,918,000 after buying an additional 77,587 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in BRP by 107.3% during the first quarter. The Manufacturers Life Insurance Company now owns 121,866 shares of the company’s stock worth $9,994,000 after buying an additional 63,080 shares during the period. 27.35% of the stock is currently owned by institutional investors and hedge funds.

BRP Company Profile

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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 company operates through two segments, Powersports and Marine. It offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products, such as snowmobiles and personal watercraft; and engines for jet boats, outboards, karts, motorcycles, and recreational aircraft.

See Also

Earnings History and Estimates for BRP (NASDAQ:DOOO)

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