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

Polaris Inc. (NYSE:PII) – DA Davidson raised their Q1 2024 EPS estimates for shares of Polaris in a note issued to investors on Monday, April 15th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings per share of $0.20 for the quarter, up from their previous forecast of $0.05. DA Davidson 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.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. Polaris’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.46 EPS.

A number of other research firms have also commented on PII. 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 research note on Wednesday, January 17th. BMO Capital Markets lowered their price target on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Wednesday, January 31st. Royal Bank of Canada upped their price objective on shares of Polaris from $100.00 to $103.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, April 8th. Finally, Truist Financial dropped their target price on shares of Polaris from $100.00 to $96.00 and set a “hold” rating on the stock in a report on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.73.

Polaris Stock Down 0.3 %

Shares of PII opened at $86.48 on Wednesday. The stock’s 50-day moving average price is $93.11 and its two-hundred day moving average price is $91.95. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49. The company has a market capitalization of $4.88 billion, a PE ratio of 9.94, a PEG ratio of 2.39 and a beta of 1.60. The company has a current ratio of 1.39, a quick ratio of 0.46 and a debt-to-equity ratio of 1.31.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.66 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a dividend yield of 3.05%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio is currently 30.34%.

Institutional Trading of Polaris

Large investors have recently made changes to their positions in the company. D.A. Davidson & CO. grew its stake in Polaris by 13.6% in the first quarter. D.A. Davidson & CO. now owns 2,510 shares of the company’s stock valued at $264,000 after acquiring an additional 301 shares during the period. Rhumbline Advisers grew its position in Polaris by 0.4% in the 1st quarter. Rhumbline Advisers now owns 152,648 shares of the company’s stock valued at $16,077,000 after purchasing an additional 572 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Polaris by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,905 shares of the company’s stock valued at $2,202,000 after purchasing an additional 1,993 shares in the last quarter. BlackRock Inc. raised its holdings in Polaris by 0.3% during the first quarter. BlackRock Inc. now owns 4,803,771 shares of the company’s stock worth $505,933,000 after buying an additional 13,281 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Polaris by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 33,033 shares of the company’s stock valued at $3,575,000 after buying an additional 2,692 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.