BRP Inc. (NASDAQ:DOOO – Get Rating) – Analysts at National Bank Financial lifted their Q3 2023 earnings per share (EPS) 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 forecast 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.
Get BRP alerts:A number of other equities analysts have also recently issued reports on DOOO. Scotiabank raised their price objective on shares of BRP from C$126.00 to C$127.00 in a research note on Thursday, September 15th. Royal Bank of Canada upped their price objective on shares of BRP from C$113.00 to C$114.00 in a research report on Thursday, September 15th. Finally, Raymond James lifted their target price on shares of BRP from C$135.00 to C$138.00 in a research report on Thursday, September 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, BRP currently has a consensus rating of "Moderate Buy" and an average target price of $130.91.
BRP Trading Up 2.2 %
Shares of DOOO stock opened at $71.56 on Thursday. The stock has a 50 day simple moving average of $65.68 and a 200-day simple moving average of $68.99. BRP has a 1-year low of $57.38 and a 1-year high of $88.53. The company has a debt-to-equity ratio of 233.30, a current ratio of 1.08 and a quick ratio of 0.26. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 10.79 and a beta of 2.39.BRP (NASDAQ:DOOO – Get Rating) last posted its quarterly earnings data on Wednesday, September 14th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.26. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates 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 for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the company earned $2.35 EPS.
BRP Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given a dividend of $0.122 per share. This represents a $0.49 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, September 29th. BRP's payout ratio is 7.39%.
Hedge Funds Weigh In On BRP
Several hedge funds have recently made changes to their positions in DOOO. National Bank of Canada FI lifted its position in shares of BRP by 151.8% in the 1st quarter. National Bank of Canada FI now owns 199,809 shares of the company's stock worth $15,348,000 after purchasing an additional 120,471 shares during the period. Pembroke Management LTD grew its position in shares of BRP by 3.6% in the 1st quarter. Pembroke Management LTD now owns 291,331 shares of the company's stock worth $29,821,000 after buying an additional 10,068 shares during the period. CIBC Asset Management Inc lifted its position in BRP by 4.3% during the 1st quarter. CIBC Asset Management Inc now owns 34,359 shares of the company's stock valued at $2,816,000 after acquiring an additional 1,429 shares during the period. Forsta AP Fonden bought a new stake in BRP during the first quarter worth about $1,475,000. Finally, Swiss National Bank grew its holdings in BRP by 7.7% in the first quarter. Swiss National Bank now owns 89,744 shares of the company's stock worth $7,340,000 after purchasing an additional 6,400 shares during the period. 27.35% of the stock is owned by hedge funds and other institutional investors.
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, 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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