BRP Inc. Plans Quarterly Dividend of $0.15 (NASDAQ:DOOO)

BRP Inc. (NASDAQ:DOOO) declared a quarterly dividend on Wednesday, March 27th, investing.com reports. Shareholders of record on Monday, April 8th will be given a dividend of 0.1545 per share on Monday, April 22nd. This represents a $0.62 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, April 5th.

BRP has raised its dividend by an average of 67.1% annually over the last three years.

BRP Price Performance

DOOO opened at $74.14 on Thursday. The company’s 50-day simple moving average is $65.54 and its two-hundred day simple moving average is $68.63. BRP has a 52-week low of $57.15 and a 52-week high of $92.74. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.41 and a current ratio of 1.41. The stock has a market capitalization of $5.62 billion, a P/E ratio of 10.56 and a beta of 2.12.

Institutional Investors Weigh In On BRP

A number of institutional investors have recently added to or reduced their stakes in DOOO. CIBC Asset Management Inc boosted its position in shares of BRP by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 34,228 shares of the company’s stock valued at $2,896,000 after acquiring an additional 160 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of BRP by 8.2% during the 1st quarter. Moors & Cabot Inc. now owns 2,638 shares of the company’s stock valued at $216,000 after acquiring an additional 200 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BRP by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,228 shares of the company’s stock valued at $876,000 after acquiring an additional 282 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of BRP by 21.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,494 shares of the company’s stock valued at $153,000 after acquiring an additional 434 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of BRP by 10.8% during the 1st quarter. Citigroup Inc. now owns 4,611 shares of the company’s stock valued at $360,000 after acquiring an additional 449 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Desjardins increased their price objective on shares of BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday. TheStreet lowered shares of BRP from a “b-” rating to a “c+” rating in a report on Monday, February 26th. CIBC increased their target price on shares of BRP from $106.00 to $110.00 and gave the stock an “outperformer” rating in a report on Monday. Finally, Raymond James reduced their target price on shares of BRP from $114.00 to $108.00 and set a “strong-buy” rating for the company in a report on Monday. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $125.78.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.