Roth Capital Analysts Increase Earnings Estimates for Polaris Inc. (NYSE:PII)

Polaris Inc. (NYSE:PII) – Stock analysts at Roth Capital raised their Q2 2024 earnings estimates for shares of Polaris in a research note issued on Thursday, April 25th. Roth Capital analyst S. Stember now expects that the company will earn $1.99 per share for the quarter, up from their prior estimate of $1.85. The consensus estimate for Polaris’ current full-year earnings is $8.00 per share. Roth Capital also issued estimates for Polaris’ FY2024 earnings at $8.11 EPS and Q1 2025 earnings at $0.86 EPS.

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

Several other equities research analysts also recently weighed in on the company. StockNews.com raised Polaris from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Bank of America initiated coverage on Polaris in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price target on the stock. Citigroup reduced their price objective on Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Truist Financial cut their target price on Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Finally, DA Davidson reissued a “neutral” rating and set a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has an average rating of “Hold” and a consensus target price of $100.27.

Polaris Stock Performance

Shares of NYSE:PII opened at $86.85 on Monday. The firm has a market capitalization of $4.91 billion, a PE ratio of 12.73, a P/E/G ratio of 2.44 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 debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.42. The business has a 50-day moving average of $92.40 and a two-hundred day moving average of $91.30.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Monday, June 3rd. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

Institutional Investors Weigh In On Polaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new position in shares of Polaris during the 1st quarter valued at about $108,890,000. Verity & Verity LLC acquired a new position in Polaris in the first quarter worth approximately $37,000. Qube Research & Technologies Ltd increased its holdings in shares of Polaris by 276.5% in the third quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after buying an additional 266,887 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Polaris by 151.9% during the 3rd quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock valued at $44,168,000 after acquiring an additional 255,777 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Polaris by 8.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after acquiring an additional 202,794 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

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.