BRP Inc. Plans Quarterly Dividend of $0.15 (NASDAQ:DOOO)

BRP Inc. (NASDAQ:DOOO) announced a quarterly dividend on Thursday, September 5th, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.152 per share on Friday, October 11th. This represents a $0.61 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, September 27th.

BRP has raised its dividend payment by an average of 87.0% annually over the last three years. BRP has a payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Analysts expect BRP to earn $3.78 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 16.4%.

BRP Trading Down 0.3 %

Shares of DOOO stock opened at $60.55 on Wednesday. The stock has a market capitalization of $4.49 billion, a P/E ratio of 10.95 and a beta of 2.07. BRP has a fifty-two week low of $57.15 and a fifty-two week high of $79.40. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. The company has a 50 day moving average price of $67.12 and a 200 day moving average price of $66.63.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DOOO shares. CIBC decreased their target price on BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a report on Monday, June 3rd. Desjardins downgraded BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Stifel Nicolaus cut shares of BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Cibc World Mkts cut shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, UBS Group reduced their price objective on shares of BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BRP presently has an average rating of “Hold” and a consensus price target of $97.00.

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.