Polaris Inc. Expected to Post FY2024 Earnings of $6.50 Per Share (NYSE:PII)

Polaris Inc. (NYSE:PII) – Stock analysts at DA Davidson reduced their FY2024 EPS estimates for shares of Polaris in a research note issued on Wednesday, July 3rd. DA Davidson analyst B. Rolle now expects that the company will earn $6.50 per share for the year, down from their previous forecast of $8.20. DA Davidson has a “Neutral” rating and a $75.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $7.73 per share. DA Davidson also issued estimates for Polaris’ FY2025 earnings at $7.50 EPS.

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

A number of other analysts have also recently commented on PII. Truist Financial lowered their price target on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday. Citigroup lowered their price target on Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Bank of America assumed coverage on Polaris in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price target for the company. Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Monday, April 8th. Finally, Robert W. Baird decreased their price objective on Polaris from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.45.

Polaris Stock Performance

Shares of NYSE:PII opened at $73.65 on Monday. The stock has a market capitalization of $4.16 billion, a P/E ratio of 10.80, a P/E/G ratio of 2.56 and a beta of 1.53. Polaris has a 1-year low of $73.29 and a 1-year high of $138.49. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $80.54 and a two-hundred day moving average price of $87.86.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, June 3rd. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Hedge Funds Weigh In On Polaris

A number of large investors have recently bought and sold shares of the company. New England Capital Financial Advisors LLC acquired a new stake in shares of Polaris in the 1st quarter valued at approximately $25,000. Creekmur Asset Management LLC bought a new position in Polaris during the 4th quarter worth $27,000. BKM Wealth Management LLC bought a new position in Polaris during the 4th quarter worth $31,000. Bessemer Group Inc. increased its position in Polaris by 174.1% during the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after buying an additional 235 shares during the period. Finally, First United Bank & Trust bought a new position in shares of Polaris in the fourth quarter worth $40,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.