BRP (NASDAQ:DOOO) Stock Price Down 4.7% – Here’s What Happened

BRP Inc. (NASDAQ:DOOO) traded down 4.7% on Tuesday . The company traded as low as $49.30 and last traded at $50.31. 34,737 shares changed hands during trading, a decline of 67% from the average session volume of 104,270 shares. The stock had previously closed at $52.79.

BRP Trading Down 4.0 %

The company has a market capitalization of $3.70 billion, a PE ratio of 26.87 and a beta of 2.02. The company has a fifty day simple moving average of $50.98 and a 200-day simple moving average of $57.89. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, December 6th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. Analysts predict that BRP Inc. will post 3.16 EPS for the current year.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.1485 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Tuesday, December 31st. BRP’s dividend payout ratio is presently 30.85%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BRP by 17.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after acquiring an additional 61,502 shares in the last quarter. Sei Investments Co. increased its stake in BRP by 31.3% in the second quarter. Sei Investments Co. now owns 105,163 shares of the company’s stock valued at $6,734,000 after purchasing an additional 25,041 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after buying an additional 15,892 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of BRP by 154.5% in the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock valued at $7,347,000 after buying an additional 70,819 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after buying an additional 150,039 shares during the last quarter.

BRP Company Profile

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.