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

Polaris Inc. (NYSE:PII) – Stock analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for Polaris in a research report issued on Monday, April 29th. DA Davidson analyst B. Rolle now forecasts that the company will earn $8.20 per share for the year, up from their previous forecast of $8.15. 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 $8.00 per share.

A number of other analysts also recently weighed in on the company. StockNews.com upgraded Polaris from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada cut their price objective on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. Citigroup cut their price objective on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $103.00 to $113.00 in a research report on Wednesday, January 17th. Finally, Bank of America began coverage on shares of Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price target on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Polaris has a consensus rating of “Hold” and an average target price of $100.27.

Polaris Stock Down 1.8 %

Shares of PII opened at $85.20 on Wednesday. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 2.52 and a beta of 1.60. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The stock has a fifty day moving average of $92.14 and a 200-day moving average of $91.15. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 1.47.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company earned $2.05 EPS. Polaris’s revenue was down 20.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Capital World Investors grew its stake in Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock valued at $640,447,000 after buying an additional 160,918 shares in the last quarter. Vanguard Group Inc. grew its stake in Polaris by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock valued at $550,375,000 after buying an additional 48,179 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Polaris by 8.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after buying an additional 202,794 shares in the last quarter. Confluence Investment Management LLC purchased a new position in Polaris in the 1st quarter valued at approximately $108,890,000. Finally, Dimensional Fund Advisors LP grew its stake in Polaris by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock valued at $80,663,000 after buying an additional 82,779 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.66 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.10%. Polaris’s dividend payout ratio is 38.71%.

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.