BRP (NASDAQ:DOOO) Issues Q3 2023 Earnings Guidance

BRP (NASDAQ:DOOOGet Rating) updated its third quarter 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.70- for the period, compared to the consensus estimate of $2.06. The company issued revenue guidance of -. BRP also updated its FY 2023 guidance to $8.63-$8.90 EPS.

Wall Street Analyst Weigh In

DOOO has been the topic of a number of recent analyst reports. Raymond James lifted their price target on BRP from C$135.00 to C$138.00 in a report on Thursday, September 15th. Desjardins restated a buy rating on shares of BRP in a research note on Monday, June 6th. Stifel Nicolaus lowered their target price on BRP from C$150.00 to C$145.00 in a research note on Monday, June 6th. Scotiabank boosted their target price on BRP from C$126.00 to C$127.00 in a research note on Thursday, September 15th. Finally, Royal Bank of Canada boosted their target price on BRP from C$113.00 to C$114.00 in a research note on Thursday, September 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $130.92.

BRP Price Performance

BRP stock traded down $2.97 during midday trading on Friday, hitting $62.83. 6,897 shares of the company’s stock were exchanged, compared to its average volume of 70,492. BRP has a 52-week low of $57.38 and a 52-week high of $99.05. The stock has a 50-day moving average price of $72.61 and a two-hundred day moving average price of $72.74. The company has a debt-to-equity ratio of 233.30, a quick ratio of 0.26 and a current ratio of 1.08. The company has a market cap of $4.94 billion, a P/E ratio of 9.69 and a beta of 2.53.

BRP (NASDAQ:DOOOGet Rating) last posted its quarterly earnings data on Wednesday, September 14th. The company reported $2.94 earnings per share (EPS) 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 firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $2.35 EPS. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, equities research analysts forecast that BRP will post 8.78 earnings per share for the current year.

BRP Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.122 dividend. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Thursday, September 29th. BRP’s dividend payout ratio (DPR) is presently 7.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Power Corp of Canada purchased a new stake in BRP during the 1st quarter valued at $69,000. BNP Paribas Arbitrage SA bought a new position in shares of BRP during the 2nd quarter valued at $94,000. JPMorgan Chase & Co. lifted its holdings in shares of BRP by 21.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,494 shares of the company’s stock valued at $153,000 after buying an additional 434 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of 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 buying an additional 200 shares during the period. Finally, UBS Group AG lifted its holdings in shares of BRP by 58.2% during the 1st quarter. UBS Group AG now owns 3,608 shares of the company’s stock valued at $295,000 after buying an additional 1,327 shares during the period. Institutional investors own 27.35% of the company’s stock.

About BRP

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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.

Further Reading

Earnings History and Estimates for BRP (NASDAQ:DOOO)

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