DA Davidson Weighs in on Polaris Inc.’s FY2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Investment analysts at DA Davidson upped their FY2024 earnings estimates for Polaris in a research report issued on Monday, April 15th. DA Davidson analyst B. Rolle now expects that the company will post earnings per share of $8.15 for the year, up from their previous forecast of $8.00. 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 $7.95 per share. DA Davidson also issued estimates for Polaris’ FY2025 earnings at $8.90 EPS.

A number of other research analysts have also recently weighed in on the stock. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Monday, April 8th. BMO Capital Markets dropped their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 31st. Truist Financial decreased their price target on shares of Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada increased their price target on shares of Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley upgraded shares of Polaris from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.73.

Polaris Price Performance

Shares of PII opened at $89.60 on Tuesday. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49. The stock has a market cap of $5.06 billion, a PE ratio of 10.30, a P/E/G ratio of 2.46 and a beta of 1.60. The firm has a 50-day simple moving average of $93.27 and a two-hundred day simple moving average of $92.14. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.46.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 30th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 5.63% and a return on equity of 40.98%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.46 EPS.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 2.95%. This is an increase from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. Polaris’s payout ratio is presently 30.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PII. Confluence Investment Management LLC acquired a new position in Polaris during the first quarter valued at approximately $108,890,000. Capital World Investors lifted its position in shares of Polaris by 33.2% during the first quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock worth $389,534,000 after purchasing an additional 922,101 shares in the last quarter. Millennium Management LLC lifted its position in shares of Polaris by 1,473.6% during the fourth quarter. Millennium Management LLC now owns 661,440 shares of the company’s stock worth $66,805,000 after purchasing an additional 619,406 shares in the last quarter. State Street Corp increased its stake in shares of Polaris by 14.8% in the first quarter. State Street Corp now owns 4,136,582 shares of the company’s stock worth $435,665,000 after buying an additional 532,947 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Polaris in the fourth quarter worth $49,002,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.