BRP Inc. (NASDAQ:DOOO) Plans Dividend Increase – $0.15 Per Share

BRP Inc. (NASDAQ:DOOO) announced a quarterly dividend on Thursday, March 27th, Wall Street Journal reports. Investors of record on Friday, April 4th will be paid a dividend of 0.1508 per share on Friday, April 18th. This represents a $0.60 annualized dividend and a dividend 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 by an average of 17.5% per year over the last three years. BRP has a payout ratio of 12.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 7.2 %

Shares of NASDAQ:DOOO opened at $35.46 on Friday. The stock’s 50-day simple moving average is $42.90 and its two-hundred day simple moving average is $49.73. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 18.86 and a beta of 2.03. BRP has a 52-week low of $35.37 and a 52-week high of $75.59. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

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

Wall Street Analysts Forecast Growth

Separately, Citigroup reissued a “sell” rating on shares of BRP in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, 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.