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 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) 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.

Other equities research analysts have also issued reports about the company. Morgan Stanley upgraded Polaris from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $103.00 to $113.00 in a research report on Wednesday, January 17th. BMO Capital Markets reduced their price target on Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Wednesday, January 31st. Royal Bank of Canada lifted their price target on Polaris from $100.00 to $103.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. KeyCorp reduced their price target on Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, January 12th. Finally, Truist Financial cut their price objective on Polaris from $100.00 to $96.00 and set a “hold” rating on the stock in a research note on Wednesday, January 31st. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.73.

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.