National Bank Financial Weighs in on BRP Inc.’s Q3 2023 Earnings (NASDAQ:DOOO)

BRP Inc. (NASDAQ:DOOOGet Rating) – Analysts at National Bank Financial increased their Q3 2023 earnings per share (EPS) estimates for shares of BRP in a research report issued on Tuesday, November 22nd. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings per share of $1.95 for the quarter, up from their prior estimate of $1.90. The consensus estimate for BRP’s current full-year earnings is $8.78 per share. National Bank Financial also issued estimates for BRP’s FY2023 earnings at $9.14 EPS and FY2024 earnings at $9.20 EPS.

BRP (NASDAQ:DOOOGet Rating) last issued its earnings results on Wednesday, September 14th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.30 billion. BRP had a negative return on equity of 526.63% and a net margin of 8.48%. The company’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 earnings per share.

Several other research analysts have also recently weighed in on DOOO. Royal Bank of Canada raised their target price on BRP from C$113.00 to C$114.00 in a research note on Thursday, September 15th. Raymond James lifted their price target on shares of BRP from C$135.00 to C$138.00 in a research note on Thursday, September 15th. Finally, Scotiabank boosted their target price on shares of BRP from C$126.00 to C$127.00 in a research note on Thursday, September 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.91.

BRP Stock Performance

BRP stock opened at $71.56 on Thursday. The stock has a fifty day moving average price of $65.68 and a 200 day moving average price of $68.99. The company has a current ratio of 1.08, a quick ratio of 0.26 and a debt-to-equity ratio of 233.30. BRP has a 52 week low of $57.38 and a 52 week high of $88.53. The firm has a market capitalization of $5.63 billion, a P/E ratio of 10.79 and a beta of 2.39.

Institutional Trading of BRP

A number of institutional investors have recently modified their holdings of DOOO. Moors & Cabot Inc. boosted its holdings in BRP by 8.2% during the 1st quarter. Moors & Cabot Inc. now owns 2,638 shares of the company’s stock valued at $216,000 after acquiring an additional 200 shares during the period. Dimensional Fund Advisors LP increased its position in BRP by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 14,228 shares of the company’s stock worth $876,000 after buying an additional 282 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of BRP by 10.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,814 shares of the company’s stock worth $235,000 after acquiring an additional 353 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of BRP during the second quarter valued at about $25,000. Finally, JPMorgan Chase & Co. raised its holdings in BRP by 21.1% during the second quarter. JPMorgan Chase & Co. now owns 2,494 shares of the company’s stock worth $153,000 after purchasing an additional 434 shares in the last quarter. 27.35% of the stock is currently owned by institutional investors.

BRP Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $0.122 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.49 annualized dividend and a yield of 0.68%. BRP’s dividend payout ratio (DPR) is currently 7.39%.

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, Latin America, and internationally. The company operates through two segments, Powersports and Marine. It offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products, which consists of snowmobiles, personal watercraft, and pontoons; and parts, accessories and apparel, and engines for karts and recreational aircraft and other services.

See Also

Earnings History and Estimates for BRP (NASDAQ:DOOO)

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