BRP (NASDAQ:DOOO) Stock Price Down 4.7% - Here's What Happened

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

BRP Trading Down 4.4 %

The company has a market cap of $3.69 billion, a PE ratio of 26.86 and a beta of 2.02. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The company has a 50-day moving average of $51.02 and a 200 day moving average of $57.76.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.85 EPS for the quarter, beating 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%. Analysts predict that BRP Inc. will post 3.16 earnings per share for the current year.

BRP Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.1485 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.18%. BRP's payout ratio is currently 30.85%.

Hedge Funds Weigh In On BRP

A number of institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in shares of BRP by 350.0% during the 3rd quarter. US Bancorp DE now owns 414 shares of the company's stock worth $25,000 after buying an additional 322 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of BRP during the 3rd quarter worth about $72,000. DRW Securities LLC purchased a new stake in BRP in the 3rd quarter valued at about $161,000. Public Employees Retirement System of Ohio purchased a new stake in shares of BRP in the 3rd quarter valued at approximately $178,000. Finally, Creative Planning purchased a new position in shares of BRP during the 3rd quarter worth approximately $227,000.

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.