Polaris Inc. (NYSE:PII) Expected to Earn Q1 2024 Earnings of $0.20 Per Share

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson increased their Q1 2024 earnings estimates for shares of Polaris in a research report issued on Monday, April 15th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings of $0.20 per share for the quarter, up from their previous estimate 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.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). The company had revenue of $2.29 billion during 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 quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.46 EPS.

PII has been the topic of several other research reports. Bank of America began coverage on shares of Polaris in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective on the stock. Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Monday, April 8th. BMO Capital Markets decreased their target price on Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada raised their target price on Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Truist Financial decreased their target price on shares of Polaris from $100.00 to $96.00 and set a “hold” rating on the stock in a research report on Wednesday, January 31st. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.73.

Polaris Stock Down 0.3 %

Shares of Polaris stock opened at $86.48 on Wednesday. The stock has a market capitalization of $4.88 billion, a P/E ratio of 9.94, a PEG ratio of 2.39 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 quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The stock has a 50 day moving average price of $93.11 and a two-hundred day moving average price of $91.95.

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in shares of Polaris during the 4th quarter worth about $27,000. Farther Finance Advisors LLC raised its position in shares of Polaris by 71.2% during the second quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock worth $30,000 after purchasing an additional 104 shares during the period. Quarry LP lifted its holdings in shares of Polaris by 150.8% during the 4th quarter. Quarry LP now owns 321 shares of the company’s stock valued at $30,000 after purchasing an additional 193 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Polaris in the 4th quarter valued at approximately $31,000. Finally, Money Concepts Capital Corp increased its stake in Polaris by 89.1% during the 4th quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock worth $32,000 after purchasing an additional 147 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.05%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, February 29th. Polaris’s dividend payout ratio (DPR) is presently 30.34%.

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.