FY2024 EPS Estimates for Polaris Inc. Increased by DA Davidson (NYSE:PII)

Polaris Inc. (NYSE:PII) – Equities research analysts at DA Davidson raised their FY2024 earnings estimates for shares of Polaris in a research note issued on Monday, April 15th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings of $8.15 per share for the year, up from their previous estimate of $8.00. DA Davidson has a “Neutral” rating and a $80.00 price objective on the stock. The consensus estimate for Polaris’ current full-year earnings is $7.97 per share. DA Davidson also issued estimates for Polaris’ FY2025 earnings at $8.90 EPS.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.69). The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Polaris had a net margin of 5.63% and a return on equity of 40.98%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $3.46 earnings per share.

Several other research firms have also recently issued reports on PII. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, April 8th. Royal Bank of Canada upped their price objective on shares of Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Morgan Stanley upgraded shares of Polaris from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $113.00 in a research report on Wednesday, January 17th. Bank of America initiated coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 target price for the company. Finally, KeyCorp dropped their target price on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, January 12th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $104.73.

Polaris Stock Down 1.6 %

PII stock opened at $86.76 on Tuesday. The firm’s fifty day simple moving average is $93.19 and its 200-day simple moving average is $91.99. The company has a market capitalization of $4.90 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.60. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.46. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.66 dividend. This is a boost from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.64 annualized dividend and a yield of 3.04%. Polaris’s dividend payout ratio (DPR) is 30.34%.

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in Polaris by 71.2% during the second quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Polaris during the fourth quarter worth approximately $27,000. Money Concepts Capital Corp grew its position in shares of Polaris by 89.1% during the fourth quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock worth $32,000 after acquiring an additional 147 shares during the last quarter. Quarry LP grew its position in shares of Polaris by 150.8% during the fourth quarter. Quarry LP now owns 321 shares of the company’s stock worth $30,000 after acquiring an additional 193 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new position in shares of Polaris during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.