Can BRP (DOOO) Run Higher on Strong Earnings Estimate Revisions?

BRP Inc. DOOO is a global leader in powersports vehicles, propulsion systems and boats built that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DOOO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that BRP could be a solid choice for investors.

Current Quarter Estimates for DOOO

In the past 30 days, two estimates have gone higher for BRP while two have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from 93 cents a share 30 days ago, to $1.04 per share today, a move of 11.8%.

Current Year Estimates for DOOO

Meanwhile, BRP’s current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.77 per share 30 days ago to $2.85 per share today, an increase of 61%.

BRP Inc. Price and Consensus

BRP Inc. Price and Consensus

BRP Inc. price-consensus-chart | BRP Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 12.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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