BRP (NASDAQ:DOOO) Releases Quarterly Earnings Results, Beats Expectations By $0.91 EPS

BRP (NASDAQ:DOOOGet Rating) announced its earnings results on Wednesday. The company reported $2.94 EPS for the quarter, beating the consensus estimate of $2.03 by $0.91, Briefing.com reports. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. BRP had a negative return on equity of 388.75% and a net margin of 8.48%. BRP’s revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 earnings per share.

BRP Trading Down 3.5 %

NASDAQ:DOOO traded down $2.48 during trading hours on Friday, hitting $68.45. 9,854 shares of the company traded hands, compared to its average volume of 58,013. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 10.32 and a beta of 2.53. BRP has a twelve month low of $57.38 and a twelve month high of $99.05. The firm has a 50-day moving average of $72.29 and a 200 day moving average of $72.71.

BRP Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.122 per share. This represents a $0.49 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, September 29th. BRP’s payout ratio is currently 7.69%.

Institutional Investors Weigh In On BRP

Institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in BRP in the 2nd quarter valued at $1,622,000. USS Investment Management Ltd bought a new stake in BRP in the 1st quarter valued at $1,391,000. Deutsche Bank AG increased its holdings in BRP by 1,052.2% in the 2nd quarter. Deutsche Bank AG now owns 20,797 shares of the company’s stock valued at $1,280,000 after buying an additional 18,992 shares during the period. Dimensional Fund Advisors LP increased its holdings in BRP by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,914 shares of the company’s stock valued at $1,056,000 after buying an additional 583 shares during the period. Finally, Mirabella Financial Services LLP increased its holdings in BRP by 70.8% in the 1st quarter. Mirabella Financial Services LLP now owns 9,767 shares of the company’s stock valued at $801,000 after buying an additional 4,047 shares during the period. Institutional investors own 27.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOOO. Desjardins reiterated a “buy” rating on shares of BRP in a research note on Monday, June 6th. Royal Bank of Canada lifted their target price on shares of BRP from C$113.00 to C$114.00 in a research note on Thursday. Raymond James lifted their target price on shares of BRP from C$135.00 to C$138.00 in a research note on Thursday. Scotiabank lifted their target price on shares of BRP from C$126.00 to C$127.00 in a research note on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of BRP from C$150.00 to C$145.00 in a research note on Monday, June 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, BRP currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.92.

BRP Company Profile

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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 for BRP (NASDAQ:DOOO)

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