Polaris (PII) Set to Announce Quarterly Earnings on Tuesday

Polaris (NYSE:PII) will be announcing its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.04 per share for the quarter. Polaris has set its FY 2024 guidance at 7.786-8.244 EPS and its FY24 guidance at ~$7.79-8.24 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). Polaris had a return on equity of 40.98% and a net margin of 5.63%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the firm posted $3.46 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, analysts expect Polaris to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Polaris Stock Performance

Shares of Polaris stock opened at $87.39 on Friday. Polaris has a one year low of $82.00 and a one year high of $138.49. The company has a market cap of $4.94 billion, a PE ratio of 10.04, a P/E/G ratio of 2.35 and a beta of 1.60. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.46 and a current ratio of 1.39. The business has a 50-day simple moving average of $93.03 and a 200-day simple moving average of $91.80.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.02%. Polaris’s payout ratio is currently 30.34%.

Institutional Investors Weigh In On Polaris

Large investors have recently modified their holdings of the stock. Quarry LP grew its holdings in Polaris by 150.8% during the fourth quarter. Quarry LP now owns 321 shares of the company’s stock worth $30,000 after acquiring an additional 193 shares during the period. Money Concepts Capital Corp grew its holdings in Polaris by 89.1% during the fourth quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock worth $32,000 after acquiring an additional 147 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Polaris during the first quarter worth $47,000. IFP Advisors Inc grew its holdings in Polaris by 30.4% during the second quarter. IFP Advisors Inc now owns 395 shares of the company’s stock worth $48,000 after acquiring an additional 92 shares during the period. Finally, KBC Group NV acquired a new position in Polaris during the fourth quarter worth $81,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America assumed coverage on Polaris in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price objective for the company. Truist Financial lowered their price objective on Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a research report on Wednesday, January 31st. DA Davidson restated a “neutral” rating and set a $80.00 target price on shares of Polaris in a research note on Tuesday, March 5th. BMO Capital Markets decreased their target price on Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada boosted their target price on Polaris from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.73.

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.