BRP (TSE:DOO) Downgraded to Sector Perform at Scotiabank

Scotiabank lowered shares of BRP (TSE:DOO) from an outperform rating to a sector perform rating in a report published on Monday, BayStreet.CA reports. The firm currently has C$91.00 price target on the stock, down from their previous price target of C$103.00.

A number of other research firms have also commented on DOO. National Bank Financial lowered shares of BRP from a strong-buy rating to a hold rating in a research report on Tuesday, August 20th. Raymond James cut their price target on shares of BRP from C$108.00 to C$100.00 in a report on Monday, June 3rd. National Bankshares cut shares of BRP from an outperform rating to a sector perform rating and decreased their price target for the stock from C$109.00 to C$100.00 in a report on Wednesday, August 21st. Royal Bank of Canada lowered their price objective on BRP from C$110.00 to C$108.00 and set an outperform rating on the stock in a research report on Monday, June 3rd. Finally, TD Securities reduced their target price on BRP from C$100.00 to C$98.00 and set a hold rating for the company in a research report on Monday, June 3rd. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of C$96.69.

BRP Stock Performance

Shares of DOO stock opened at C$79.56 on Monday. BRP has a 52 week low of C$77.42 and a 52 week high of C$108.01. The firm’s 50-day simple moving average is C$92.68 and its two-hundred day simple moving average is C$91.38. The firm has a market cap of C$2.83 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 2.05 and a beta of 2.33. The company has a debt-to-equity ratio of 461.35, a quick ratio of 0.20 and a current ratio of 1.35.

BRP (TSE:DOO) last posted its quarterly earnings results on Friday, September 6th. The company reported C$0.61 EPS for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.31. BRP had a net margin of 5.83% and a return on equity of 94.59%. The company had revenue of C$1.84 billion for the quarter, compared to analysts’ expectations of C$1.85 billion. As a group, equities analysts forecast that BRP will post 8.3681507 earnings per share for the current year.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, September 27th. BRP’s dividend payout ratio is currently 11.28%.

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.