BRP Inc. (NASDAQ:DOOO – Get Rating) – Analysts at Desjardins reduced their Q3 2023 EPS estimates for BRP in a research report issued to clients and investors on Wednesday, September 14th. Desjardins analyst B. Poirier now anticipates that the company will post earnings of $1.66 per share for the quarter, down from their previous forecast of $2.23. Desjardins currently has a “Buy” rating on the stock. The consensus estimate for BRP’s current full-year earnings is $8.73 per share.
Other equities analysts have also recently issued reports about the stock. Scotiabank boosted their target price on shares of BRP from C$126.00 to C$127.00 in a research report on Thursday. Stifel Nicolaus dropped their price objective on shares of BRP from C$150.00 to C$145.00 in a research note on Monday, June 6th. Raymond James increased their price target on BRP from C$135.00 to C$138.00 in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on BRP from C$113.00 to C$114.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.92.
BRP Price Performance
BRP (NASDAQ:DOOO – Get Rating) last posted its 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 company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm earned $2.35 earnings per share. The company’s revenue was up 28.1% on a year-over-year basis.
Institutional Trading of BRP
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOOO. Envestnet Asset Management Inc. increased its holdings in BRP by 18.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,884 shares of the company’s stock worth $516,000 after purchasing an additional 911 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of BRP by 72.1% in the fourth quarter. Qube Research & Technologies Ltd now owns 5,967 shares of the company’s stock valued at $523,000 after acquiring an additional 2,499 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of BRP by 13.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,464 shares of the company’s stock valued at $304,000 after acquiring an additional 406 shares in the last quarter. Turtle Creek Asset Management Inc. grew its holdings in shares of BRP by 63.3% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $351,000 after acquiring an additional 1,550 shares in the last quarter. Finally, Gluskin Sheff & Assoc Inc. grew its holdings in shares of BRP by 1.1% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 372,860 shares of the company’s stock valued at $32,629,000 after acquiring an additional 3,937 shares in the last quarter. 27.35% of the stock is owned by institutional investors.
BRP Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.122 dividend. This represents a $0.49 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, September 29th. BRP’s payout ratio is 7.69%.
BRP Company Profile
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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