BRP Inc. (NASDAQ:DOOO) Increases Dividend to $0.15 Per Share

BRP Inc. (NASDAQ:DOOO) announced 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 1.70%. 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 payment 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. 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 traded down $2.77 on Thursday, reaching $35.46. 285,788 shares of the company traded hands, compared to its average volume of 145,165. 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 has a 52 week low of $35.41 and a 52 week high of $75.59. The stock has a market capitalization of $2.59 billion, a P/E ratio of 18.86 and a beta of 2.03. The business’s 50-day simple moving average is $43.26 and its 200 day simple moving average is $49.83.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of BRP from a “neutral” rating to a “sell” rating and cut their price target for the company from $48.00 to $29.00 in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BRP currently has an average rating of “Hold” and an average 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.