FY2024 Earnings Forecast for Polaris Inc. (NYSE:PII) Issued By DA Davidson

Polaris Inc. (NYSE:PII) – Stock analysts at DA Davidson raised their FY2024 earnings per share estimates for shares of 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 $8.15 per share for the year, up from their prior forecast of $8.00. DA Davidson has a “Neutral” rating and a $80.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $7.95 per share. DA Davidson also issued estimates for Polaris’ FY2025 earnings at $8.90 EPS.

Polaris (NYSE:PII) last announced its quarterly earnings results 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 business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the firm earned $3.46 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis.

Several other analysts have also recently weighed in on the company. BMO Capital Markets cut their price objective 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. 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 on the stock. Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Monday, April 8th. Morgan Stanley raised 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 research report on Wednesday, January 17th. Finally, KeyCorp cut their price objective on Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, January 12th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $104.73.

Polaris Stock Down 1.7 %

Shares of NYSE:PII opened at $88.08 on Tuesday. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49. The company has a market cap of $4.97 billion, a PE ratio of 10.12, a P/E/G ratio of 2.46 and a beta of 1.60. 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’s 50-day moving average is $93.26 and its 200 day moving average is $92.03.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.66 dividend. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Thursday, February 29th. Polaris’s payout ratio is currently 30.34%.

Institutional Trading of Polaris

A number of hedge funds have recently made changes to their positions in PII. Creekmur Asset Management LLC bought a new position in Polaris in the 4th quarter valued at approximately $27,000. Farther Finance Advisors LLC lifted its position in Polaris by 71.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock valued at $30,000 after acquiring an additional 104 shares in the last quarter. Quarry LP lifted its position in Polaris by 150.8% in the 4th quarter. Quarry LP now owns 321 shares of the company’s stock valued at $30,000 after acquiring an additional 193 shares in the last quarter. BKM Wealth Management LLC bought a new position in Polaris in the 4th quarter valued at approximately $31,000. Finally, Money Concepts Capital Corp lifted its position 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 acquiring an additional 147 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

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.