BRP Inc. (DOOO) to Issue Quarterly Dividend of $0.15 on April 18th

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 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, April 4th. This is a 1.5% increase from BRP’s previous quarterly dividend of $0.15.

BRP has raised its dividend payment by an average of 17.5% per year 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 Price Performance

Shares of DOOO opened at $34.00 on Friday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 18.09 and a beta of 2.03. The firm’s fifty day simple moving average is $42.54 and its 200-day simple moving average is $49.56. BRP has a twelve month low of $33.05 and a twelve 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 posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Equities analysts forecast that BRP will post 3.15 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Citigroup reaffirmed a “sell” rating and set a $27.00 price objective (down previously from $29.00) on shares of BRP in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $87.40.

About BRP

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.