DA Davidson Weighs in on Polaris Inc.'s FY2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII - Free Report) - Investment analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Polaris in a research note issued on Monday, April 15th. DA Davidson analyst B. Rolle now forecasts that the company will earn $8.15 per share for the year, up from their previous estimate of $8.00. DA Davidson currently has a "Neutral" rating and a $80.00 target price on the stock. The consensus estimate for Polaris' current full-year earnings is $7.95 per share. DA Davidson also issued estimates for Polaris' FY2025 earnings at $8.90 EPS.

A number of other equities analysts have also issued reports on the company. Bank of America assumed coverage on Polaris in a research note on Wednesday, April 3rd. They issued a "neutral" rating and a $110.00 target price for the company. Truist Financial reduced their target price on Polaris from $100.00 to $96.00 and set a "hold" rating for the company in a research note on Wednesday, January 31st. KeyCorp reduced their target price on Polaris from $115.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, January 12th. Morgan Stanley upgraded Polaris from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. Finally, BMO Capital Markets reduced their target price on Polaris from $100.00 to $95.00 and set a "market perform" rating for the company in a research note on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $104.73.

Polaris Stock Performance

Shares of NYSE PII traded down $1.52 during mid-day trading on Tuesday, hitting $88.08. The stock had a trading volume of 670,273 shares, compared to its average volume of 668,031. The firm has a market cap of $4.97 billion, a PE ratio of 10.12, a PEG ratio of 2.46 and a beta of 1.60. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.46 and a current ratio of 1.39. The company has a 50 day moving average of $93.26 and a two-hundred day moving average of $92.03. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.69). The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The company's revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.46 EPS.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, February 29th. This is a positive change from Polaris's previous quarterly dividend of $0.65. Polaris's payout ratio is currently 30.34%.

Hedge Funds Weigh In On Polaris

Several institutional investors and hedge funds have recently modified their holdings of PII. Confluence Investment Management LLC acquired a new stake in Polaris in the 1st quarter worth about $108,890,000. Capital World Investors boosted its holdings in Polaris by 33.2% in the 1st quarter. Capital World Investors now owns 3,698,573 shares of the company's stock worth $389,534,000 after buying an additional 922,101 shares during the last quarter. Millennium Management LLC boosted its holdings in Polaris by 1,473.6% in the 4th quarter. Millennium Management LLC now owns 661,440 shares of the company's stock worth $66,805,000 after buying an additional 619,406 shares during the last quarter. State Street Corp boosted its holdings in Polaris by 14.8% in the 1st quarter. State Street Corp now owns 4,136,582 shares of the company's stock worth $435,665,000 after buying an additional 532,947 shares during the last quarter. Finally, Norges Bank acquired a new stake in Polaris in the 4th quarter worth about $49,002,000. Hedge funds and other 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.