Research Analysts Offer Predictions for Polaris Inc.’s Q1 2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Stock analysts at DA Davidson increased their Q1 2024 EPS estimates for Polaris in a research note issued to investors 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 prior forecast of $0.05. DA Davidson has a “Neutral” rating and a $80.00 price objective on the stock. The consensus estimate for Polaris’ current full-year earnings is $7.97 per share.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. Polaris’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the firm earned $3.46 earnings per share.

PII has been the topic of a number of other reports. KeyCorp reduced their price target on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, January 12th. Royal Bank of Canada boosted their price target on shares of Polaris from $100.00 to $103.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Truist Financial dropped their price objective on shares of Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a report on Wednesday, January 31st. Morgan Stanley upgraded shares of Polaris from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Finally, Bank of America assumed coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective for the company. Ten equities research 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 company currently has a consensus rating of “Hold” and an average target price of $104.73.

Polaris Price Performance

Polaris stock opened at $86.76 on Wednesday. The company’s 50 day simple moving average is $93.19 and its 200-day simple moving average is $91.99. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.60. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.46 and a current ratio of 1.39.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.04%. The ex-dividend date was Thursday, February 29th. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s payout ratio is 30.34%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PII. Confluence Investment Management LLC acquired a new position in Polaris during the 1st quarter worth approximately $108,890,000. Capital World Investors grew its holdings in Polaris by 33.2% during the 1st quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock worth $389,534,000 after acquiring an additional 922,101 shares in the last quarter. Millennium Management LLC grew its holdings in Polaris by 1,473.6% during the 4th quarter. Millennium Management LLC now owns 661,440 shares of the company’s stock worth $66,805,000 after acquiring an additional 619,406 shares in the last quarter. State Street Corp boosted its holdings in shares of Polaris by 14.8% in the 1st quarter. State Street Corp now owns 4,136,582 shares of the company’s stock valued at $435,665,000 after buying an additional 532,947 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Polaris in the 4th quarter valued at $49,002,000. 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.