FY2023 EPS Estimates for BRP Inc. (NASDAQ:DOOO) Reduced by Analyst

BRP Inc. (NASDAQ:DOOOGet Rating) – DA Davidson reduced their FY2023 EPS estimates for BRP in a research note issued on Wednesday, September 14th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings per share of $8.60 for the year, down from their prior estimate of $8.88. The consensus estimate for BRP’s current full-year earnings is $8.82 per share.

BRP (NASDAQ:DOOOGet Rating) last issued its quarterly earnings data on Wednesday, September 14th. The company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.91. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.30 billion. BRP had a net margin of 8.79% and a negative return on equity of 305.74%. The business’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the company posted $2.35 EPS.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus cut their target price on BRP from C$150.00 to C$145.00 in a research report on Monday, June 6th. Royal Bank of Canada boosted their price objective on shares of BRP from C$113.00 to C$114.00 in a research report on Thursday. Desjardins restated a “buy” rating on shares of BRP in a report on Monday, June 6th. Scotiabank upped their price target on shares of BRP from C$126.00 to C$127.00 in a report on Thursday. Finally, Raymond James raised their price objective on shares of BRP from C$135.00 to C$138.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.92.

BRP Price Performance

Shares of NASDAQ DOOO opened at $70.93 on Thursday. BRP has a 1-year low of $57.38 and a 1-year high of $99.05. The business’s 50 day moving average is $72.29 and its two-hundred day moving average is $72.71. The stock has a market capitalization of $5.58 billion, a P/E ratio of 11.19 and a beta of 2.53.

Hedge Funds Weigh In On BRP

Several institutional investors have recently made changes to their positions in the company. Moors & Cabot Inc. grew its holdings in BRP by 8.2% during the 1st quarter. Moors & Cabot Inc. now owns 2,638 shares of the company’s stock worth $216,000 after acquiring an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in BRP during the second quarter valued at approximately $25,000. O Shaughnessy Asset Management LLC raised its stake in BRP by 13.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,464 shares of the company’s stock worth $304,000 after buying an additional 406 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in BRP by 21.1% during the second quarter. JPMorgan Chase & Co. now owns 2,494 shares of the company’s stock worth $153,000 after buying an additional 434 shares during the period. Finally, Scotia Capital Inc. boosted its position in BRP by 4.6% during the 1st quarter. Scotia Capital Inc. now owns 11,248 shares of the company’s stock valued at $920,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 27.35% of the company’s stock.

BRP Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.122 dividend. This represents a $0.49 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, September 29th. BRP’s dividend payout ratio is 8.04%.

About BRP

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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 company operates through two segments, Powersports and Marine. It offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products, such as snowmobiles and personal watercraft; and engines for jet boats, outboards, karts, motorcycles, and recreational aircraft.

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Earnings History and Estimates for BRP (NASDAQ:DOOO)

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