BRP Inc. (DOOO) to Distribute 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 paid a dividend of 0.1508 per share on Friday, April 18th. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. 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 dividend 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 Stock Performance

DOOO opened at $35.75 on Wednesday. BRP has a 1-year low of $33.05 and a 1-year high of $75.59. The stock has a market cap of $2.61 billion, a P/E ratio of 19.02 and a beta of 2.03. The stock’s 50 day simple moving average is $41.81 and its 200 day simple moving average is $49.02. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57.

BRP (NASDAQ:DOOO) last announced 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. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, equities analysts anticipate that BRP will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup reissued a “sell” rating and set a $27.00 price target (down previously from $29.00) on shares of BRP in a research report on Friday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, BRP has an average rating of “Hold” and an average price target of $82.25.

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.