Polaris (PII) to Release Earnings on Tuesday

Polaris (NYSE:PII) will be posting its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect Polaris to post 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.Individual that wish to listen to the company’s earnings 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). Polaris had a net margin of 5.63% and a return on equity of 40.98%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the firm posted $3.46 EPS. The firm’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 Down 1.0 %

PII stock opened at $89.60 on Tuesday. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49. The business has a fifty day moving average price of $93.27 and a 200-day moving average price 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. The stock has a market capitalization of $5.06 billion, a P/E ratio of 10.30, a P/E/G ratio of 2.46 and a beta of 1.60.

Polaris Increases Dividend

The business 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 2.95%. The ex-dividend date was Thursday, February 29th. This is a positive change from Polaris’s previous quarterly dividend of $0.65. Polaris’s payout ratio is currently 30.34%.

Institutional Investors Weigh In On Polaris

Hedge funds have recently made changes to their positions in the company. Money Concepts Capital Corp boosted its holdings in Polaris by 89.1% in the 4th quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock valued at $32,000 after purchasing an additional 147 shares during the period. Quarry LP lifted its holdings in shares of Polaris by 150.8% during the 4th quarter. Quarry LP now owns 321 shares of the company’s stock worth $30,000 after acquiring an additional 193 shares during the period. IFP Advisors Inc lifted its holdings in shares of Polaris by 30.4% during the 2nd 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. Brown Brothers Harriman & Co. bought a new position in Polaris during the 1st quarter valued at about $47,000. Finally, KBC Group NV bought a new position in Polaris during the 4th quarter valued at about $81,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PII. Bank of America started coverage on Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 target price on the stock. Longbow Research upgraded Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Monday, April 8th. Truist Financial dropped their price objective on Polaris from $100.00 to $96.00 and set a “hold” rating on the stock in a research note on Wednesday, January 31st. KeyCorp dropped their price objective on Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, January 12th. Finally, BMO Capital Markets dropped their target price on Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.