DA Davidson Comments on Polaris’ FY2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson reduced their FY2024 EPS estimates for shares of Polaris in a research note issued on Monday, October 21st. DA Davidson analyst B. Rolle now forecasts that the company will earn $3.50 per share for the year, down from their prior forecast of $3.75. DA Davidson has a “Buy” rating and a $87.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $3.66 per share.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis.

PII has been the subject of a number of other reports. StockNews.com raised shares of Polaris from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Truist Financial decreased their target price on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. Bank of America decreased their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Citigroup decreased their target price on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Longbow Research reiterated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $89.18.

Polaris Price Performance

Shares of NYSE PII opened at $80.19 on Tuesday. Polaris has a twelve month low of $71.90 and a twelve month high of $100.91. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 7.59 and a beta of 1.51. The firm has a 50-day moving average of $82.43 and a two-hundred day moving average of $82.30.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Tuesday, September 3rd. Polaris’s dividend payout ratio is 46.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. New England Capital Financial Advisors LLC acquired a new position in Polaris during the 1st quarter worth $25,000. Blue Trust Inc. increased its holdings in shares of Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the period. Bessemer Group Inc. increased its holdings in shares of Polaris by 174.1% during the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after purchasing an additional 235 shares during the period. Signaturefd LLC increased its holdings in shares of Polaris by 1,931.3% during the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock worth $51,000 after purchasing an additional 618 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Polaris during the 2nd quarter worth about $57,000. Institutional investors and hedge funds 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.