Polaris Inc. (NYSE:PII – Free Report) – Equities research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for Polaris in a research note issued to investors on Monday, April 15th. DA Davidson analyst B. Rolle now anticipates that the company will post earnings of $8.15 per share for the year, up from their prior forecast of $8.00. DA Davidson has a “Neutral” rating and a $80.00 price target 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 – Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). Polaris had a net margin of 5.63% and a return on equity of 40.98%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business earned $3.46 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year.
Polaris Trading Down 1.6 %
NYSE:PII opened at $86.76 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.60. The stock has a fifty day simple moving average of $93.19 and a 200 day simple moving average of $91.99.
Institutional Trading of Polaris
A number of institutional investors and hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC acquired a new stake in Polaris in the 1st quarter valued at $108,890,000. Capital World Investors boosted its stake in Polaris by 33.2% in the first quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock worth $389,534,000 after purchasing an additional 922,101 shares in the last quarter. Millennium Management LLC boosted its stake in Polaris by 1,473.6% in the fourth quarter. Millennium Management LLC now owns 661,440 shares of the company’s stock worth $66,805,000 after purchasing an additional 619,406 shares in the last quarter. State Street Corp boosted its stake in Polaris by 14.8% in the first quarter. State Street Corp now owns 4,136,582 shares of the company’s stock worth $435,665,000 after purchasing an additional 532,947 shares in the last quarter. Finally, Norges Bank acquired a new position in Polaris in the fourth quarter worth $49,002,000. 88.06% of the stock is currently owned by institutional investors.
Polaris Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.04%. Polaris’s payout ratio is currently 30.34%.
About Polaris
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.
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