BRP (NASDAQ:DOOO) Releases FY 2023 Earnings Guidance

BRP (NASDAQ:DOOO – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $8.530-$8.810 for the period, compared to the Thomson Reuters consensus estimate of $8.300. The company issued revenue guidance of $7.52 billion-$7.83 billion, compared to the consensus revenue estimate of $6.99 billion.

Several brokerages have issued reports on DOOO. National Bank Financial boosted their price target on BRP from C$124.00 to C$136.00 in a research note on Monday, March 28th. Scotiabank boosted their price target on BRP from C$125.00 to C$133.00 in a research note on Monday, March 28th. Robert W. Baird began coverage on BRP in a research report on Monday, March 28th. They set a buy rating and a $104.00 target price on the stock. Canaccord Genuity Group upped their target price on BRP from C$130.00 to C$136.00 in a research report on Monday, March 28th. Finally, Raymond James upped their target price on BRP from C$137.00 to C$146.00 in a research report on Sunday, March 27th. Sixteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and a consensus price target of $131.81.

DOOO stock opened at $81.10 on Friday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 10.97 and a beta of 2.71. BRP has a fifty-two week low of $57.38 and a fifty-two week high of $102.96. The stock has a fifty day moving average of $74.50 and a 200-day moving average of $81.83.

BRP (NASDAQ:DOOO – Get Rating) last posted its quarterly earnings results on Friday, March 25th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $1.97 by $1.03. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.30 billion. BRP had a negative return on equity of 326.52% and a net margin of 10.39%. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. On average, analysts predict that BRP will post 8.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 18th. Investors of record on Monday, April 4th will be issued a dividend of $0.126 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from BRP’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, April 1st. BRP’s dividend payout ratio (DPR) is currently 6.90%.

Several hedge funds have recently modified their holdings of the company. UBS Group AG raised its stake in BRP by 7.2% during the third quarter. UBS Group AG now owns 1,821 shares of the company’s stock valued at $168,000 after buying an additional 122 shares during the last quarter. LPL Financial LLC bought a new stake in shares of BRP in the third quarter worth $200,000. Dimensional Fund Advisors LP grew its holdings in shares of BRP by 79.0% in the third quarter. Dimensional Fund Advisors LP now owns 10,295 shares of the company’s stock worth $954,000 after acquiring an additional 4,542 shares during the period. Goldman Sachs Group Inc. grew its holdings in BRP by 38.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 36,463 shares of the company’s stock valued at $3,198,000 after purchasing an additional 10,214 shares during the period. Finally, Geode Capital Management LLC grew its holdings in BRP by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 44,133 shares of the company’s stock valued at $3,868,000 after purchasing an additional 299 shares during the period. Hedge funds and other institutional investors own 53.84% of the company’s stock.

BRP Company Profile (Get Rating)

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

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