BRP (NASDAQ:DOOO) Updates 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.

NASDAQ DOOO opened at $67.44 on Friday. The firm has a 50 day simple moving average of $78.14 and a 200-day simple moving average of $77.82. BRP has a one year low of $57.38 and a one year high of $102.96. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 10.64 and a beta of 2.53.

BRP (NASDAQ:DOOOGet Rating) last posted its quarterly earnings data on Friday, June 3rd. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $0.81 by $0.85. BRP had a net margin of 8.79% and a negative return on equity of 305.74%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $2.00 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts forecast that BRP will post 8.9 EPS for the current fiscal year.

The company 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 $0.124 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.50 dividend on an annualized basis and a yield of 0.74%. BRP’s dividend payout ratio is currently 8.04%.

DOOO has been the subject of several recent analyst reports. TD Securities boosted their price objective on shares of BRP from C$115.00 to C$125.00 in a research report on Monday, March 28th. Raymond James reduced their price objective on shares of BRP from C$146.00 to C$135.00 in a research report on Monday. Robert W. Baird reduced their price objective on shares of BRP to $100.00 and set a na rating for the company in a research report on Monday, May 16th. National Bank Financial boosted their price objective on shares of BRP from C$124.00 to C$136.00 in a research report on Monday, March 28th. Finally, Scotiabank reduced their price objective on shares of BRP from C$133.00 to C$126.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $128.56.

Several large investors have recently bought and sold shares of DOOO. UBS Group AG boosted its position in shares of BRP by 7.2% in the 3rd quarter. UBS Group AG now owns 1,821 shares of the company’s stock worth $168,000 after buying an additional 122 shares in the last quarter. Moors & Cabot Inc. boosted its position 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of BRP by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 44,133 shares of the company’s stock worth $3,868,000 after buying an additional 299 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of BRP by 0.7% in the 4th quarter. Wells Fargo & Company MN now owns 57,676 shares of the company’s stock worth $5,059,000 after buying an additional 399 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of BRP by 11.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,640 shares of the company’s stock worth $462,000 after buying an additional 560 shares in the last quarter. 54.38% of the stock is currently owned by institutional investors and hedge funds.

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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