BRP (TSE:DOO) Shares Cross Below 200-Day Moving Average – Here’s What Happened

BRP Inc. (TSE:DOO)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$94.93 and traded as low as C$76.90. BRP shares last traded at C$80.93, with a volume of 640,694 shares trading hands.

Analyst Ratings Changes

DOO has been the subject of several recent analyst reports. Raymond James Financial cut shares of BRP from a “strong-buy” rating to a “market perform” rating in a report on Friday, April 24th. Citigroup reduced their price target on shares of BRP from C$119.00 to C$102.00 and set a “buy” rating for the company in a research report on Monday, April 20th. TD set a C$84.00 price target on shares of BRP and gave the company a “hold” rating in a research report on Thursday, May 21st. Desjardins decreased their target price on shares of BRP from C$138.00 to C$97.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Finally, Canaccord Genuity Group lowered shares of BRP from a “buy” rating to a “hold” rating and decreased their target price for the company from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$103.33.

BRP Stock Up 0.8%

The firm has a market cap of C$5.97 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.05 and a beta of 1.03. The business’s fifty day moving average price is C$84.75 and its two-hundred day moving average price is C$94.93. The company has a current ratio of 1.27, a quick ratio of 0.20 and a debt-to-equity ratio of 443.59.

BRP (TSE:DOO) last released its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 earnings per share for the quarter. The business had revenue of C$2.39 billion for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. As a group, equities research analysts anticipate that BRP Inc. will post 6.890971 EPS for the current year.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, April 10th. BRP’s dividend payout ratio (DPR) is 21.77%.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).