Equities Analysts Set Expectations for Polaris Inc.’s Q2 2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson raised their Q2 2024 earnings estimates for Polaris in a research note issued on Wednesday, July 3rd. DA Davidson analyst B. Rolle now expects that the company will post earnings per share of $2.42 for the quarter, up from their prior forecast of $2.32. DA Davidson currently has a “Neutral” rating and a $75.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $8.01 per share.

Other equities research analysts have also issued reports about the stock. Truist Financial dropped their price objective on shares of Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Monday, April 8th. Royal Bank of Canada lowered their price target on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 24th. StockNews.com lowered shares of Polaris from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird lowered their price target on shares of Polaris from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $99.36.

Polaris Trading Down 0.4 %

Shares of NYSE:PII opened at $75.67 on Thursday. Polaris has a 12 month low of $74.25 and a 12 month high of $138.49. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The company’s fifty day simple moving average is $81.35 and its 200 day simple moving average is $88.42. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.62 and a beta of 1.53.

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

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, June 3rd. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Chase Investment Counsel Corp bought a new position in shares of Polaris in the 4th quarter valued at about $852,000. Semanteon Capital Management LP bought a new stake in shares of Polaris during the 4th quarter worth about $1,270,000. TD Asset Management Inc boosted its holdings in shares of Polaris by 8.3% during the 4th quarter. TD Asset Management Inc now owns 140,779 shares of the company’s stock worth $13,342,000 after buying an additional 10,770 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Polaris by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,306 shares of the company’s stock worth $33,957,000 after buying an additional 10,745 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Polaris by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock worth $550,375,000 after buying an additional 48,179 shares during the period. 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.