FY2024 EPS Estimates for Polaris Inc. Lifted by Analyst (NYSE:PII)

Polaris Inc. (NYSE:PII) – Analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for Polaris in a report released on Monday, April 29th. DA Davidson analyst B. Rolle now forecasts that the company will earn $8.20 per share for the year, up from their prior forecast of $8.15. 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 $8.00 per share.

Several other equities analysts also recently weighed in on PII. StockNews.com raised Polaris from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Truist Financial cut their price target on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada lowered their price objective on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 24th. Robert W. Baird cut their target price on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, Citigroup lowered their price target on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average target price of $100.27.

Polaris Trading Down 2.0 %

Shares of Polaris stock opened at $83.46 on Wednesday. The company has a 50-day moving average of $92.14 and a two-hundred day moving average of $91.15. The stock has a market cap of $4.72 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 2.52 and a beta of 1.60. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 EPS.

Institutional Investors Weigh In On Polaris

Hedge funds and other institutional investors have recently made changes to their positions in 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 valued at $1,480,000 after purchasing an additional 114 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of Polaris by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 23,679 shares of the company’s stock worth $2,466,000 after buying an additional 120 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Polaris by 3.3% in the 1st quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock worth $377,000 after buying an additional 122 shares during the period. Security National Bank of SO Dak raised its position in shares of Polaris by 1.5% in the 3rd quarter. Security National Bank of SO Dak now owns 8,730 shares of the company’s stock worth $909,000 after buying an additional 130 shares during the period. Finally, Miracle Mile Advisors LLC boosted 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 valued at $285,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Announces Dividend

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

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.