DA Davidson Weighs in on Polaris’ FY2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for shares of Polaris in a research report issued on Thursday, October 24th. DA Davidson analyst B. Rolle now anticipates that the company will earn $3.15 per share for the year, down from their prior forecast of $3.50. DA Davidson currently has a “Buy” rating and a $84.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $3.25 per share. DA Davidson also issued estimates for Polaris’ Q4 2024 earnings at $0.81 EPS.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The firm’s quarterly revenue was down 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS.

PII has been the subject of a number of other reports. Robert W. Baird decreased their price target on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday. Longbow Research reissued a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. BMO Capital Markets cut their price target on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Truist Financial lowered their price objective 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. Finally, Bank of America reduced their target price on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.09.

Polaris Stock Performance

Shares of PII opened at $71.25 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market cap of $3.97 billion, a PE ratio of 19.90, a P/E/G ratio of 7.48 and a beta of 1.51. Polaris has a 12 month low of $68.59 and a 12 month high of $100.91. The stock has a fifty day moving average price of $81.58 and a 200-day moving average price of $81.67.

Hedge Funds Weigh In On Polaris

Several institutional investors have recently made changes to their positions in PII. Vanguard Group Inc. increased its stake in shares of Polaris by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after purchasing an additional 94,680 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Polaris by 22.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock worth $6,616,000 after buying an additional 11,009 shares during the period. Tidal Investments LLC acquired a new position in shares of Polaris during the 1st quarter worth approximately $1,065,000. Allspring Global Investments Holdings LLC lifted its position in shares of 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 buying an additional 169 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Polaris by 1,619.1% in the 1st quarter. SG Americas Securities LLC now owns 37,975 shares of the company’s stock valued at $3,802,000 after acquiring an additional 35,766 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is 73.74%.

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.