BRP Inc. (NASDAQ:DOOO – Get Rating) – Stock analysts at National Bank Financial boosted their Q3 2023 earnings estimates for BRP in a research note issued to investors on Tuesday, November 22nd. National Bank Financial analyst C. Doerksen now expects that the company will earn $1.95 per share 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.
A number of other brokerages also recently weighed in on DOOO. Scotiabank raised their target price on shares of BRP from C$126.00 to C$127.00 in a research note on Thursday, September 15th. Raymond James increased their price target on shares of BRP from C$135.00 to C$138.00 in a research report on Thursday, September 15th. Finally, Royal Bank of Canada increased their price target on shares of BRP from C$113.00 to C$114.00 in a research report on Thursday, September 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.92.
BRP Trading Up 2.2 %
BRP (NASDAQ:DOOO – Get Rating) last announced its earnings results on Wednesday, September 14th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.26. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.30 billion. BRP had a net margin of 8.48% and a negative return on equity of 526.63%. BRP’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the firm posted $2.35 earnings per share.
BRP Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were issued a $0.122 dividend. This represents a $0.49 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, September 29th. BRP’s dividend payout ratio is 7.39%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in DOOO. Northwestern Mutual Wealth Management Co. bought a new position in shares of BRP in the second quarter worth approximately $25,000. Grayhawk Investment Strategies Inc. purchased a new stake in BRP in the second quarter worth $67,000. Power Corp of Canada purchased a new stake in BRP in the first quarter worth $69,000. Ensign Peak Advisors Inc purchased a new stake in BRP in the third quarter worth $93,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in BRP in the second quarter worth $94,000. Institutional investors own 27.35% of the company’s stock.
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, 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.
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