BRP Inc. (NASDAQ:DOOO) Increases Dividend to $0.15 Per Share

BRP Inc. (NASDAQ:DOOO) declared a quarterly dividend on Thursday, March 27th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be given a dividend of 0.1508 per share on Friday, April 18th. This represents a $0.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, April 4th. This is a 1.5% increase from BRP’s previous quarterly dividend of $0.15.

BRP has increased its dividend payment by an average of 17.5% annually over the last three years. BRP has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BRP to earn $3.43 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 16.9%.

BRP Stock Performance

Shares of NASDAQ:DOOO opened at $35.46 on Friday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 18.86 and a beta of 2.03. The firm’s 50-day moving average is $42.90 and its 200 day moving average is $49.73. BRP has a 12 month low of $35.37 and a 12 month high of $75.59. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. BRP had a net margin of 2.29% and a return on equity of 61.20%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. Research analysts predict that BRP will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Citigroup reaffirmed a “sell” rating on shares of BRP in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.80.

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, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.