Research Analysts Offer Predictions for Polaris Inc.’s Q1 2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Equities research analysts at DA Davidson raised their Q1 2024 earnings estimates for Polaris in a research report issued on Monday, April 15th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings of $0.20 per share for the quarter, up from their prior estimate of $0.05. DA Davidson currently has a “Neutral” rating and a $80.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $7.97 per share.

PII has been the subject of several other research reports. Truist Financial lowered their target price on shares of Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a research note on Wednesday, January 31st. BMO Capital Markets lowered their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, April 8th. Bank of America initiated coverage on shares of Polaris in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 target price for the company. Finally, Morgan Stanley upgraded shares of Polaris from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $113.00 in a research note on Wednesday, January 17th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $104.73.

Polaris Stock Down 1.6 %

PII stock opened at $86.76 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.46. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49. The firm has a fifty day moving average price of $93.19 and a two-hundred day moving average price of $91.99. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 2.43 and a beta of 1.60.

Polaris (NYSE:PII) last issued 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 return on equity of 40.98% and a net margin of 5.63%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm posted $3.46 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.66 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a yield of 3.04%. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio (DPR) is currently 30.34%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PII. International Assets Investment Management LLC boosted its position in Polaris by 10,524.7% during the 4th quarter. International Assets Investment Management LLC now owns 61,411 shares of the company’s stock worth $5,820,000 after acquiring an additional 60,833 shares during the period. Camarda Financial Advisors LLC acquired a new stake in Polaris during the 3rd quarter worth about $1,354,000. Quantbot Technologies LP acquired a new stake in Polaris during the 3rd quarter worth about $1,227,000. Envestnet Asset Management Inc. boosted its position in Polaris by 35.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 114,630 shares of the company’s stock worth $11,938,000 after acquiring an additional 30,114 shares during the period. Finally, Gotham Asset Management LLC boosted its position in Polaris by 61.2% during the 3rd quarter. Gotham Asset Management LLC now owns 75,625 shares of the company’s stock worth $7,876,000 after acquiring an additional 28,700 shares during the period. 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.