Analysts Offer Predictions for BRP Inc.’s Q3 2023 Earnings (NASDAQ:DOOO)

BRP Inc. (NASDAQ:DOOOGet Rating) – Equities research analysts at National Bank Financial issued their Q3 2023 earnings per share estimates for BRP in a report issued on Wednesday, September 14th. National Bank Financial analyst C. Doerksen forecasts that the company will earn $1.90 per share for the quarter. The consensus estimate for BRP’s current full-year earnings is $8.73 per share. National Bank Financial also issued estimates for BRP’s FY2023 earnings at $8.76 EPS and FY2024 earnings at $8.95 EPS.

BRP (NASDAQ:DOOOGet Rating) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.91. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. BRP had a net margin of 8.48% and a negative return on equity of 526.63%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.35 EPS.

A number of other research firms have also recently weighed in on DOOO. Royal Bank of Canada boosted their target price on shares of BRP from C$113.00 to C$114.00 in a research note on Thursday. Stifel Nicolaus reduced their target price on shares of BRP from C$150.00 to C$145.00 in a report on Monday, June 6th. Desjardins reiterated a “buy” rating on shares of BRP in a report on Monday, June 6th. Raymond James boosted their price target on shares of BRP from C$135.00 to C$138.00 in a research report on Thursday. Finally, Scotiabank lifted their target price on shares of BRP from C$126.00 to C$127.00 in a report on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.92.

BRP Stock Performance

NASDAQ DOOO opened at $68.38 on Monday. The company has a market cap of $5.38 billion, a P/E ratio of 10.31 and a beta of 2.53. The company has a current ratio of 1.08, a quick ratio of 0.26 and a debt-to-equity ratio of 233.30. BRP has a 12-month low of $57.38 and a 12-month high of $99.05. The company has a fifty day simple moving average of $72.33 and a 200 day simple moving average of $72.72.

BRP Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.49 dividend on an annualized basis and a yield of 0.71%. BRP’s payout ratio is 7.69%.

Institutional Investors Weigh In On BRP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOOO. Beutel Goodman & Co Ltd. increased its stake in shares of BRP by 205.9% during the first quarter. Beutel Goodman & Co Ltd. now owns 3,113,867 shares of the company’s stock worth $255,069,000 after buying an additional 2,095,781 shares during the period. Mackenzie Financial Corp boosted its position in shares of BRP by 20.2% during the 4th quarter. Mackenzie Financial Corp now owns 5,746,540 shares of the company’s stock worth $503,373,000 after purchasing an additional 966,038 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of BRP during the 2nd quarter valued at approximately $34,115,000. Principal Financial Group Inc. acquired a new stake in BRP in the 1st quarter valued at about $39,790,000. Finally, Invesco Ltd. grew its stake in BRP by 103.1% in the 1st quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock worth $65,671,000 after acquiring an additional 407,545 shares during the period. Hedge funds and other institutional investors own 27.35% of the company’s stock.

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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