Canaccord Genuity Group Cuts BRP (TSE:DOO) Price Target to C$80.00

BRP (TSE:DOO) had its price objective cut by Canaccord Genuity Group from C$88.00 to C$80.00 in a report published on Wednesday,BayStreet.CA reports.

Several other brokerages have also commented on DOO. BMO Capital Markets lowered their price objective on shares of BRP from C$115.00 to C$100.00 in a research report on Monday, September 9th. Royal Bank of Canada dropped their price objective on BRP from C$108.00 to C$99.00 in a research note on Monday, September 9th. Stifel Nicolaus decreased their target price on BRP from C$97.00 to C$82.00 in a research report on Monday, September 9th. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Finally, Citigroup decreased their price objective on BRP from C$110.00 to C$101.00 in a report on Monday, September 9th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, BRP currently has a consensus rating of “Hold” and an average target price of C$92.69.

BRP Price Performance

Shares of TSE DOO opened at C$68.39 on Wednesday. The company has a market capitalization of C$2.36 billion, a PE ratio of 20.72, a PEG ratio of 2.05 and a beta of 2.28. The company has a quick ratio of 0.20, a current ratio of 1.32 and a debt-to-equity ratio of 545.75. The stock’s 50 day moving average price is C$73.71 and its 200-day moving average price is C$84.94. BRP has a twelve month low of C$65.32 and a twelve month high of C$102.46.

BRP (TSE:DOO) last posted its quarterly earnings data on Friday, September 6th. The company reported C$0.61 earnings per share for the quarter, topping the consensus estimate of C$0.30 by C$0.31. BRP had a return on equity of 37.60% and a net margin of 2.77%. The business had revenue of C$1.84 billion for the quarter, compared to analysts’ expectations of C$1.85 billion. On average, equities analysts anticipate that BRP will post 6.890971 EPS for the current year.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Friday, September 27th. BRP’s dividend payout ratio is presently 25.45%.

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.