DA Davidson Brokers Decrease Earnings Estimates for Polaris

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Polaris in a note issued to investors on Monday, October 21st. DA Davidson analyst B. Rolle now forecasts that the company will post earnings of $3.50 per share for the year, down from their previous estimate of $3.75. DA Davidson currently has a “Buy” rating and a $87.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $3.66 per share.

Several other equities analysts have also recently issued reports on the company. Longbow Research reiterated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Truist Financial lowered their target price on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Roth Mkm cut their price target on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird lowered their price objective on Polaris from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their price objective on Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $89.18.

Polaris Trading Down 9.9 %

Shares of PII stock opened at $72.22 on Tuesday. Polaris has a fifty-two week low of $71.18 and a fifty-two week high of $100.91. The company has a 50 day moving average price of $82.25 and a 200 day moving average price of $82.12. The stock has a market capitalization of $4.03 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 7.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 1.42.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company earned $2.42 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Tuesday, September 3rd. Polaris’s payout ratio is currently 46.23%.

Hedge Funds Weigh In On Polaris

Hedge funds have recently modified their holdings of the business. JLB & Associates Inc. grew its position in Polaris by 0.5% during the 2nd quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock worth $1,917,000 after purchasing an additional 120 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Polaris by 14.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after acquiring an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in Polaris by 2.4% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock worth $586,000 after acquiring an additional 172 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in shares of Polaris by 1.2% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after purchasing an additional 187 shares during the last quarter. Finally, Isthmus Partners LLC grew its stake in shares of Polaris by 5.0% in the 2nd quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after purchasing an additional 190 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.