Polaris Inc. (NYSE:PII - Free Report) - Research analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for Polaris in a note issued to investors on Monday, April 29th. DA Davidson analyst B. Rolle now anticipates that the company will post earnings of $8.20 per share for the year, up from their previous forecast of $8.15. 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 $8.00 per share.
Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.75 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company's revenue was down 20.3% on a year-over-year basis.
PII has been the subject of several other research reports. Longbow Research raised Polaris from a "neutral" rating to a "buy" rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Morgan Stanley raised Polaris from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $103.00 to $113.00 in a report on Wednesday, January 17th. Truist Financial cut their price objective on Polaris from $96.00 to $92.00 and set a "hold" rating for the company in a report on Wednesday, April 24th. StockNews.com raised Polaris from a "hold" rating to a "buy" rating in a report on Wednesday, April 24th. Finally, Citigroup cut their price target on Polaris from $100.00 to $96.00 and set a "neutral" rating for the company in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Polaris presently has an average rating of "Hold" and an average target price of $100.27.
Check Out Our Latest Stock Analysis on PII
Polaris Stock Performance
Shares of PII traded down $1.70 during trading hours on Wednesday, hitting $83.46. The stock had a trading volume of 606,716 shares, compared to its average volume of 720,211. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.42. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49. The firm has a market capitalization of $4.72 billion, a PE ratio of 12.24, a PEG ratio of 2.52 and a beta of 1.60. The stock has a fifty day moving average price of $92.14 and a 200 day moving average price of $91.15.
Polaris Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Monday, June 3rd. Polaris's dividend payout ratio (DPR) is 38.71%.
Hedge Funds Weigh In On Polaris
A number of hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its stake in shares of Polaris by 2.4% in the fourth quarter. Capital World Investors now owns 6,757,911 shares of the company's stock worth $640,447,000 after acquiring an additional 160,918 shares during the period. Vanguard Group Inc. boosted its stake in shares of Polaris by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company's stock worth $550,375,000 after acquiring an additional 48,179 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Polaris by 8.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company's stock worth $257,993,000 after buying an additional 202,794 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Polaris in the first quarter worth about $108,890,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Polaris by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company's stock worth $80,663,000 after buying an additional 82,779 shares in the last quarter. Institutional investors own 88.06% of the company's stock.
About Polaris
(
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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.
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