DA Davidson Weighs in on BRP Inc.’s Q2 2023 Earnings (NASDAQ:DOOO)

BRP Inc. (NASDAQ:DOOOGet Rating) – Equities research analysts at DA Davidson issued their Q2 2023 earnings per share estimates for shares of BRP in a research note issued on Tuesday, June 7th. DA Davidson analyst B. Rolle anticipates that the company will post earnings of $2.06 per share for the quarter. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for BRP’s FY2023 earnings at $9.02 EPS.

DOOO has been the subject of a number of other research reports. Stifel Nicolaus dropped their price objective on shares of BRP from C$150.00 to C$145.00 in a report on Monday. Canaccord Genuity Group boosted their price target on shares of BRP from C$130.00 to C$136.00 in a report on Monday, March 28th. TD Securities boosted their price target on shares of BRP from C$115.00 to C$125.00 in a report on Monday, March 28th. National Bank Financial boosted their price target on shares of BRP from C$124.00 to C$136.00 in a report on Monday, March 28th. Finally, Scotiabank lowered their price target on shares of BRP from C$133.00 to C$126.00 in a report on Monday. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $128.56.

Shares of DOOO stock opened at $70.92 on Wednesday. The stock has a market capitalization of $5.75 billion, a P/E ratio of 11.19 and a beta of 2.53. The company has a 50 day moving average price of $78.71 and a 200 day moving average price of $78.01. BRP has a fifty-two week low of $57.38 and a fifty-two week high of $102.96.

BRP (NASDAQ:DOOOGet Rating) last released its quarterly earnings results on Friday, June 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.85. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. BRP had a net margin of 8.79% and a negative return on equity of 305.74%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 30th will be paid a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, June 29th. BRP’s dividend payout ratio is currently 8.04%.

Large investors have recently modified their holdings of the stock. Power Corp of Canada acquired a new stake in BRP during the 1st quarter worth $69,000. Advisor Group Holdings Inc. boosted its stake in BRP by 30.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,623 shares of the company’s stock worth $151,000 after purchasing an additional 375 shares during the period. UBS Group AG boosted its stake in BRP by 7.2% during the 3rd quarter. UBS Group AG now owns 1,821 shares of the company’s stock worth $168,000 after purchasing an additional 122 shares during the period. LPL Financial LLC acquired a new stake in BRP during the 3rd quarter worth $200,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in shares of BRP in the 4th quarter worth $203,000. Hedge funds and other 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.

See Also

Earnings History and Estimates for BRP (NASDAQ:DOOO)

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