Q2 2024 Earnings Forecast for Polaris Inc. (NYSE:PII) Issued By DA Davidson

Polaris Inc. (NYSE:PII) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Polaris in a note issued to investors on Monday, April 29th. DA Davidson analyst B. Rolle expects that the company will post earnings per share of $2.32 for the quarter. 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) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the business posted $2.05 earnings per share.

PII has been the subject of several other research reports. KeyCorp dropped their price target on Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, January 12th. Robert W. Baird dropped their price target on Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. StockNews.com upgraded Polaris from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada dropped their target price on Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 24th. Finally, Truist Financial dropped their target price on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.27.

Polaris Trading Down 2.0 %

PII opened at $83.46 on Tuesday. The firm has a market cap of $4.72 billion, a P/E ratio of 12.24, a P/E/G ratio of 2.52 and a beta of 1.60. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. The stock has a 50-day moving average of $92.14 and a 200 day moving average of $91.15.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Monday, June 3rd. Polaris’s dividend payout ratio is presently 38.71%.

Hedge Funds Weigh In On Polaris

A number of large investors have recently bought and sold shares of the business. Lantz Financial LLC grew its holdings in Polaris by 0.8% in the first quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock worth $1,480,000 after purchasing an additional 114 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Polaris by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 23,679 shares of the company’s stock worth $2,466,000 after purchasing an additional 120 shares during the last quarter. Fifth Third Bancorp grew its holdings in Polaris by 3.3% in the first quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock worth $377,000 after purchasing an additional 122 shares during the last quarter. Security National Bank of SO Dak grew its holdings in Polaris by 1.5% in the third quarter. Security National Bank of SO Dak now owns 8,730 shares of the company’s stock worth $909,000 after purchasing an additional 130 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in Polaris by 5.4% in the third quarter. Miracle Mile Advisors LLC now owns 2,735 shares of the company’s stock worth $285,000 after purchasing an additional 139 shares during the last quarter. Institutional investors 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.