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

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

BRP Price Performance

Shares of NASDAQ:DOOO traded down $1.93 during trading on Friday, hitting $69.00. The company had a trading volume of 1,360 shares, compared to its average volume of 58,013. BRP has a one year low of $57.38 and a one year high of $99.05. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 10.70 and a beta of 2.53. The company has a fifty day simple moving average of $72.29 and a two-hundred day simple moving average of $72.71.

BRP Cuts Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Raymond James upped their price objective on BRP from C$135.00 to C$138.00 in a research note on Thursday. Scotiabank raised their price objective on BRP from C$126.00 to C$127.00 in a research note on Thursday. Royal Bank of Canada raised their price objective on BRP from C$113.00 to C$114.00 in a research note on Thursday. Stifel Nicolaus dropped their target price on BRP from C$150.00 to C$145.00 in a research report on Monday, June 6th. Finally, Desjardins restated a “buy” rating on shares of BRP in a research report 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.92.

Institutional Investors Weigh In On BRP

Institutional investors and hedge funds have recently modified their holdings of the business. Power Corp of Canada purchased a new position in shares of BRP in the 1st quarter valued at $69,000. BNP Paribas Arbitrage SA acquired a new position in shares of BRP in the 2nd quarter valued at about $94,000. JPMorgan Chase & Co. increased its stake in shares of BRP by 21.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,494 shares of the company’s stock valued at $153,000 after purchasing an additional 434 shares in the last quarter. Moors & Cabot Inc. increased its stake in BRP by 8.2% during the 1st quarter. Moors & Cabot Inc. now owns 2,638 shares of the company’s stock worth $216,000 after buying an additional 200 shares in the last quarter. Finally, UBS Group AG increased its stake in BRP by 58.2% during the 1st quarter. UBS Group AG now owns 3,608 shares of the company’s stock worth $295,000 after buying an additional 1,327 shares in the last quarter. 27.35% of the stock is owned by institutional investors.

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.

Further Reading

Earnings History for BRP (NASDAQ:DOOO)

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