FY2023 Earnings Forecast for Polaris Inc. (NYSE:PII) Issued By DA Davidson

Polaris Inc. (NYSE:PII – Get Rating) – Equities researchers at DA Davidson dropped their FY2023 earnings per share estimates for shares of Polaris in a research report issued to clients and investors on Monday, January 9th. DA Davidson analyst B. Rolle now anticipates that the company will post earnings per share of $9.00 for the year, down from their previous estimate of $10.00. The consensus estimate for Polaris’ current full-year earnings is $10.20 per share.

Several other research firms have also issued reports on PII. MKM Partners initiated coverage on Polaris in a research report on Tuesday, November 29th. They issued a “neutral” rating and a $117.00 price target on the stock. Robert W. Baird reduced their target price on Polaris from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, October 6th. StockNews.com upgraded Polaris from a “hold” rating to a “buy” rating in a report on Friday, January 6th. Raymond James reduced their target price on Polaris from $137.00 to $123.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 26th. Finally, Truist Financial reduced their target price on Polaris from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Wednesday, October 5th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Polaris presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Polaris Stock Up 1.4 %

NYSE:PII opened at $106.00 on Wednesday. Polaris has a 12-month low of $91.86 and a 12-month high of $127.37. The company has a quick ratio of 0.41, a current ratio of 1.28 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $6.14 billion, a P/E ratio of 19.06 and a beta of 1.54. The stock’s fifty day simple moving average is $106.62 and its 200-day simple moving average is $107.69.

Polaris (NYSE:PII – Get Rating) last released its earnings results on Tuesday, October 25th. The company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.85 by $0.40. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Polaris had a return on equity of 50.01% and a net margin of 3.97%.

Institutional Trading of Polaris

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Polaris by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,885,506 shares of the company’s stock valued at $562,950,000 after acquiring an additional 89,717 shares during the last quarter. BlackRock Inc. increased its position in shares of Polaris by 0.3% in the first quarter. BlackRock Inc. now owns 4,803,771 shares of the company’s stock valued at $505,933,000 after acquiring an additional 13,281 shares during the last quarter. State Street Corp increased its position in shares of Polaris by 7.0% in the second quarter. State Street Corp now owns 4,426,032 shares of the company’s stock valued at $439,416,000 after acquiring an additional 289,450 shares during the last quarter. Capital World Investors increased its position in 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 buying an additional 922,101 shares during the last quarter. Finally, Boston Partners increased its position in Polaris by 3.0% during the third quarter. Boston Partners now owns 2,646,911 shares of the company’s stock worth $253,221,000 after buying an additional 76,223 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, November 30th. Polaris’s dividend payout ratio is currently 46.04%.

About Polaris

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Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. 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; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.