BRP (NASDAQ:DOOO) Releases FY 2023 Earnings Guidance

BRP (NASDAQ:DOOOGet Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share guidance of $8.68-$8.96 for the period, compared to the consensus earnings per share estimate of $8.74. The company issued revenue guidance of $7.49 billion-$7.79 billion, compared to the consensus revenue estimate of $7.55 billion.

DOOO opened at $79.98 on Friday. The stock’s fifty day simple moving average is $79.26 and its 200 day simple moving average is $78.46. BRP has a 1-year low of $57.38 and a 1-year high of $102.96. The stock has a market cap of $6.48 billion, a PE ratio of 10.82 and a beta of 2.53.

BRP (NASDAQ:DOOOGet Rating) last issued its quarterly earnings data on Friday, March 25th. The company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.39. BRP had a negative return on equity of 326.52% and a net margin of 10.39%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the firm posted $1.40 EPS. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. Analysts predict that BRP will post 8.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 4th were paid a $0.126 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Friday, April 1st. This is an increase from BRP’s previous quarterly dividend of $0.10. BRP’s payout ratio is 6.90%.

Several research analysts have commented on the company. DA Davidson began coverage on BRP in a research note on Wednesday, May 4th. They set a buy rating for the company. Raymond James increased their price objective on shares of BRP from C$137.00 to C$146.00 in a research note on Sunday, March 27th. TD Securities boosted their target price on shares of BRP from C$115.00 to C$125.00 in a research note on Monday, March 28th. Canaccord Genuity Group raised their price objective on BRP from C$130.00 to C$136.00 in a report on Monday, March 28th. Finally, Northcoast Research lowered BRP from a buy rating to a neutral rating in a research report on Tuesday, May 17th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, BRP has an average rating of Buy and an average price target of $131.27.

Hedge funds have recently bought and sold shares of the company. Power Corp of Canada bought a new position in shares of BRP during the first quarter valued at about $69,000. UBS Group AG increased its stake in BRP by 7.2% in the 3rd quarter. UBS Group AG now owns 1,821 shares of the company’s stock valued at $168,000 after buying an additional 122 shares during the last quarter. LPL Financial LLC bought a new position in shares of BRP during the 3rd quarter worth approximately $200,000. Moors & Cabot Inc. boosted its stake in shares of BRP by 8.2% in the 1st quarter. Moors & Cabot Inc. now owns 2,638 shares of the company’s stock worth $216,000 after buying an additional 200 shares during the last quarter. Finally, Brinker Capital Investments LLC purchased a new position in shares of BRP in the 1st quarter worth approximately $316,000. Institutional investors own 54.38% of the company’s stock.

BRP Company Profile (Get Rating)

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.

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Earnings History and Estimates for BRP (NASDAQ:DOOO)

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