Polaris Inc. (NYSE:PII) to Post Q1 2024 Earnings of $0.20 Per Share, DA Davidson Forecasts

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson increased their Q1 2024 earnings per share estimates for shares of Polaris in a research note issued to investors on Monday, April 15th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings per share of $0.20 for the quarter, up from their prior estimate of $0.05. DA Davidson currently 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.

Several other research analysts have also issued reports on PII. Bank of America initiated coverage on Polaris in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 target price for the company. Royal Bank of Canada raised their target price on Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Monday, April 8th. Morgan Stanley raised Polaris from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $113.00 in a research report on Wednesday, January 17th. Finally, Truist Financial lowered their price objective on Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a research report on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $104.73.

Polaris Price Performance

Shares of NYSE PII traded down $1.38 during mid-day trading on Wednesday, hitting $86.76. 585,830 shares of the stock traded hands, compared to its average volume of 665,012. 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 twelve month low of $82.00 and a twelve month high of $138.49. The company has a market cap of $4.90 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.60. The firm has a 50 day simple moving average of $93.26 and a two-hundred day simple moving average of $92.03.

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

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 given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.04%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. Polaris’s payout ratio is presently 30.34%.

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in Polaris by 71.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock valued at $30,000 after buying an additional 104 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in Polaris in the 4th quarter valued at about $27,000. Money Concepts Capital Corp increased its position in Polaris by 89.1% in the 4th quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock valued at $32,000 after buying an additional 147 shares in the last quarter. Quarry LP increased its position in Polaris by 150.8% in the 4th quarter. Quarry LP now owns 321 shares of the company’s stock valued at $30,000 after buying an additional 193 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Polaris in the 4th quarter valued at about $31,000. 88.06% of the stock is owned by institutional investors.

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.