DA Davidson Comments on Polaris’ FY2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Equities research analysts at DA Davidson cut their FY2024 EPS estimates for Polaris in a note issued to investors on Monday, October 21st. DA Davidson analyst B. Rolle now anticipates that the company will post earnings per share of $3.50 for the year, down from their previous estimate of $3.75. DA Davidson currently has a “Buy” rating and a $87.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $3.66 per share.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business earned $2.71 EPS. The company’s quarterly revenue was down 23.4% on a year-over-year basis.

Several other brokerages have also issued reports on PII. Citigroup reduced their price target on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Bank of America decreased their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada cut their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday. Roth Mkm reduced their price objective on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, BMO Capital Markets lowered their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Polaris has an average rating of “Hold” and a consensus price target of $87.36.

Polaris Stock Performance

Shares of NYSE PII opened at $69.68 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. Polaris has a one year low of $69.36 and a one year high of $100.91. The business’s 50-day moving average price is $82.04 and its two-hundred day moving average price is $82.04. The company has a market capitalization of $3.94 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 7.59 and a beta of 1.51.

Institutional Trading of Polaris

Several hedge funds have recently added to or reduced their stakes in the business. JLB & Associates Inc. boosted its position in shares of Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after acquiring an additional 120 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Polaris by 14.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after buying an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in Polaris by 2.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock worth $586,000 after buying an additional 172 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Polaris by 1.2% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after acquiring an additional 187 shares during the period. Finally, Isthmus Partners LLC raised its holdings in Polaris by 5.0% in the 2nd quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after acquiring an additional 190 shares in the last quarter. Institutional investors 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.