BRP (NASDAQ:DOOO) Stock Price Down 4.7% – What’s Next?

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

BRP Stock Performance

The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 26.30 and a beta of 2.02. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The firm’s 50-day moving average price is $51.05 and its two-hundred day moving average price is $57.70.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, analysts expect that BRP Inc. will post 3.16 EPS for the current fiscal year.

BRP Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.1485 dividend. This represents a $0.59 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, December 31st. BRP’s payout ratio is currently 30.85%.

Institutional Investors Weigh In On BRP

Several hedge funds have recently modified their holdings of DOOO. Van ECK Associates Corp raised its position in BRP by 699.9% in the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock valued at $3,875,000 after purchasing an additional 66,627 shares during the period. Addenda Capital Inc. raised its position in shares of BRP by 10.5% during the 4th quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock valued at $678,000 after acquiring an additional 1,265 shares in the last quarter. Franklin Resources Inc. grew its position in shares of BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock valued at $43,461,000 after buying an additional 214,626 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of BRP by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after purchasing an additional 15,892 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of BRP during the third quarter valued at $178,000.

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.