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 given a dividend of 0.215 per share on Friday, April 18th. This represents a $0.86 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, April 4th. This is a 2.4% increase from BRP’s previous quarterly dividend of $0.21.

BRP Stock Up 5.3 %

DOO stock opened at C$51.18 on Wednesday. The company’s 50 day moving average is C$59.96 and its 200 day moving average is C$69.16. 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 current ratio of 1.37, a quick ratio of 0.20 and a debt-to-equity ratio of 573.79. BRP has a 1-year low of C$47.16 and a 1-year high of C$102.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Scotiabank decreased their price target on shares of BRP from C$91.00 to C$86.00 and set a “sector perform” rating on the stock in a report on Monday, December 9th. National Bankshares lowered their price target on BRP from C$84.00 to C$72.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 25th. Raymond James dropped their price target on BRP from C$98.00 to C$65.00 in a research note on Thursday, March 27th. CIBC reduced their price objective on BRP from C$82.00 to C$64.00 in a research report on Thursday, March 27th. Finally, 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$71.23.

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.