BRP Inc. (TSE:DOO) Increases Dividend to $0.22 Per Share

BRP Inc. (TSE:DOO) announced a quarterly dividend on Friday, April 4th, TickerTech Dividends reports. Shareholders of record on Friday, April 18th will be paid a dividend of 0.215 per share on Friday, April 18th. This represents a $0.86 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, April 4th. This is a 2.4% increase from BRP’s previous quarterly dividend of $0.21.

BRP Price Performance

Shares of BRP stock opened at C$51.18 on Wednesday. The stock has a market cap of C$3.76 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.05 and a beta of 2.28. The company has a debt-to-equity ratio of 573.79, a quick ratio of 0.20 and a current ratio of 1.37. The stock has a 50 day moving average price of C$59.96 and a 200-day moving average price of C$69.16. BRP has a one year low of C$47.16 and a one year high of C$102.46.

Wall Street Analyst Weigh In

Several research firms have commented on DOO. Scotiabank dropped their price objective on shares of BRP from C$91.00 to C$86.00 and set a “sector perform” rating for the company in a research note on Monday, December 9th. Canaccord Genuity Group dropped their price target on shares of BRP from C$80.00 to C$60.00 in a research note on Friday, March 21st. Royal Bank of Canada reduced their price objective on shares of BRP from C$99.00 to C$69.00 in a research report on Friday, March 28th. TD Securities dropped their target price on BRP from C$70.00 to C$65.00 and set a “hold” rating for the company in a research report on Thursday, March 27th. Finally, Citigroup cut their target price on BRP from C$41.00 to C$39.00 in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$71.23.

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.