BRP Inc. (DOOO) to Issue Quarterly Dividend of $0.15 on January 14th

BRP Inc. (NASDAQ:DOOO) announced a quarterly dividend on Monday, December 9th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.1485 per share on Tuesday, January 14th. This represents a $0.59 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Tuesday, December 31st.

BRP has increased its dividend by an average of 87.0% per year over the last three years. BRP has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect BRP to earn $3.60 per share next year, which means the company should continue to be able to cover its $0.61 annual dividend with an expected future payout ratio of 16.9%.

BRP Price Performance

DOOO stock opened at $52.38 on Wednesday. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37. BRP has a 1 year low of $46.85 and a 1 year high of $75.59. The firm has a 50-day moving average of $51.98 and a 200 day moving average of $60.72. The company has a market cap of $3.82 billion, a P/E ratio of 27.86 and a beta of 2.03.

Wall Street Analysts Forecast Growth

DOOO has been the topic of a number of research reports. UBS Group dropped their target price on shares of BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Scotiabank cut shares of BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Citigroup lowered their target price on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 9th. National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Finally, Desjardins downgraded BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.00.

About BRP

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.