BRP Inc. (NASDAQ:DOOO – Get Rating) – Equities researchers at DA Davidson boosted their FY2023 earnings per share estimates for BRP in a research note issued on Monday, September 19th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings of $8.78 per share for the year, up from their prior forecast of $8.60. The consensus estimate for BRP’s current full-year earnings is $8.78 per share. DA Davidson also issued estimates for BRP’s FY2024 earnings at $9.27 EPS.
A number of other research firms have also issued reports on DOOO. Stifel Nicolaus reduced their target price on BRP from C$150.00 to C$145.00 in a report on Monday, June 6th. Scotiabank increased their price objective on BRP from C$126.00 to C$127.00 in a research note on Thursday, September 15th. Raymond James lifted their target price on BRP from C$135.00 to C$138.00 in a research note on Thursday, September 15th. Desjardins reissued a “buy” rating on shares of BRP in a research report on Monday, June 6th. Finally, Royal Bank of Canada boosted their price objective on shares of BRP from C$113.00 to C$114.00 in a research report on Thursday, September 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, BRP has a consensus rating of “Moderate Buy” and an average target price of $130.92.
BRP Stock Down 4.0 %
BRP (NASDAQ:DOOO – Get Rating) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.91. BRP had a negative return on equity of 526.63% and a net margin of 8.48%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $2.35 EPS. BRP’s revenue was up 28.1% on a year-over-year basis.
Hedge Funds Weigh In On BRP
Several hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp boosted its stake in shares of BRP by 20.2% during the 4th quarter. Mackenzie Financial Corp now owns 5,746,540 shares of the company’s stock worth $503,373,000 after acquiring an additional 966,038 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its position in BRP by 205.9% during the first quarter. Beutel Goodman & Co Ltd. now owns 3,113,867 shares of the company’s stock worth $255,069,000 after purchasing an additional 2,095,781 shares during the period. Vanguard Group Inc. boosted its position in BRP by 2.6% during the first quarter. Vanguard Group Inc. now owns 1,200,665 shares of the company’s stock worth $98,202,000 after purchasing an additional 30,978 shares during the period. Invesco Ltd. grew its holdings in BRP by 103.1% during the first quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock valued at $65,671,000 after purchasing an additional 407,545 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of BRP by 8.1% in the second quarter. Bank of Montreal Can now owns 765,905 shares of the company’s stock valued at $50,870,000 after purchasing an additional 57,074 shares during the period. 27.35% of the stock is owned by institutional investors and hedge funds.
BRP Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.122 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.49 annualized dividend and a dividend yield of 0.74%. BRP’s dividend payout ratio (DPR) is 7.69%.
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.
- Get a free copy of the StockNews.com research report on BRP (DOOO)
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