BRP Inc. (NASDAQ:DOOO – Get Rating) – Equities research analysts at DA Davidson lifted their FY2023 earnings estimates for BRP in a research note issued on Monday, September 19th. DA Davidson analyst B. Rolle now forecasts that the company will earn $8.78 per share for the year, up from their previous forecast of $8.60. The consensus estimate for BRP’s current full-year earnings is $8.73 per share. DA Davidson also issued estimates for BRP’s FY2024 earnings at $9.27 EPS.
BRP (NASDAQ:DOOO – Get Rating) last posted its earnings results on Wednesday, September 14th. The company reported $2.94 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the business earned $2.35 earnings per share. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis.
BRP Trading Down 0.8 %
DOOO stock opened at $69.49 on Wednesday. BRP has a 52 week low of $57.38 and a 52 week high of $99.05. The company has a market capitalization of $5.47 billion, a PE ratio of 10.48 and a beta of 2.53. The company’s 50-day simple moving average is $72.53 and its 200 day simple moving average is $72.73. The company has a debt-to-equity ratio of 233.30, a quick ratio of 0.26 and a current ratio of 1.08.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Moors & Cabot Inc. raised its holdings in shares of BRP by 8.2% during the first quarter. Moors & Cabot Inc. now owns 2,638 shares of the company’s stock valued at $216,000 after purchasing an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in BRP during the 2nd quarter worth approximately $25,000. O Shaughnessy Asset Management LLC boosted its holdings in BRP by 13.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,464 shares of the company’s stock worth $304,000 after acquiring an additional 406 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in BRP by 21.1% in the second quarter. JPMorgan Chase & Co. now owns 2,494 shares of the company’s stock worth $153,000 after acquiring an additional 434 shares in the last quarter. Finally, Scotia Capital Inc. lifted its holdings in shares of BRP by 4.6% in the 1st quarter. Scotia Capital Inc. now owns 11,248 shares of the company’s stock worth $920,000 after purchasing an additional 491 shares in the last quarter. 27.35% of the stock is owned by institutional investors.
BRP Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.122 dividend. This represents a $0.49 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, September 29th. BRP’s dividend payout ratio (DPR) is presently 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.
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