Polaris Inc. to Post Q1 2024 Earnings of $0.20 Per Share, DA Davidson Forecasts (NYSE:PII)

Polaris Inc. (NYSE:PII - Free Report) - DA Davidson upped their Q1 2024 earnings per share (EPS) estimates for shares of Polaris in a research note issued to investors on Monday, April 15th. DA Davidson analyst B. Rolle now forecasts that the company will earn $0.20 per share for the quarter, up from their prior forecast of $0.05. DA Davidson currently has a "Neutral" rating and a $80.00 price target on the stock. The consensus estimate for Polaris' current full-year earnings is $7.97 per share.

A number of other research firms have also recently weighed in on PII. Morgan Stanley raised Polaris from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $103.00 to $113.00 in a research report on Wednesday, January 17th. Truist Financial decreased their price objective on Polaris from $100.00 to $96.00 and set a "hold" rating for the company in a research report on Wednesday, January 31st. Bank of America assumed coverage on Polaris in a research note on Wednesday, April 3rd. They set a "neutral" rating and a $110.00 target price for the company. BMO Capital Markets cut 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. Finally, KeyCorp cut 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. Ten 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.com, Polaris presently has a consensus rating of "Hold" and an average target price of $104.73.

Polaris Stock Performance

Polaris stock traded down $1.38 during mid-day trading on Wednesday, reaching $86.76. 585,830 shares of the company were exchanged, compared to its average volume of 666,919. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The firm's 50-day simple moving average is $93.19 and its two-hundred day simple moving average is $91.99. 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 firm has a market cap of $4.90 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.60.

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

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.66 dividend. This is an increase from Polaris's previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, February 29th. Polaris's dividend payout ratio (DPR) is presently 30.34%.

Institutional Investors Weigh In On Polaris

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in Polaris by 10,524.7% during the 4th quarter. International Assets Investment Management LLC now owns 61,411 shares of the company's stock valued at $5,820,000 after buying an additional 60,833 shares during the last quarter. Camarda Financial Advisors LLC acquired a new stake in shares of Polaris during the third quarter worth $1,354,000. Quantbot Technologies LP acquired a new stake in shares of Polaris during the third quarter worth $1,227,000. Envestnet Asset Management Inc. boosted its holdings in shares of Polaris by 35.6% during the third quarter. Envestnet Asset Management Inc. now owns 114,630 shares of the company's stock worth $11,938,000 after purchasing an additional 30,114 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in shares of Polaris by 61.2% during the third quarter. Gotham Asset Management LLC now owns 75,625 shares of the company's stock worth $7,876,000 after purchasing an additional 28,700 shares during the last quarter. 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.