Roth Capital Weighs in on Polaris Inc.’s Q2 2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Analysts at Roth Capital increased their Q2 2024 earnings per share estimates for shares of Polaris in a note issued to investors on Thursday, April 25th. Roth Capital analyst S. Stember now forecasts that the company will post earnings of $1.99 per share for the quarter, up from their prior forecast 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 earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS.

Other analysts also recently issued research reports about the company. DA Davidson reiterated a “neutral” rating and set a $80.00 price target on shares of Polaris in a research report on Tuesday, March 5th. Royal Bank of Canada dropped their price target on Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 24th. Morgan Stanley upgraded Polaris from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $113.00 in a research report on Wednesday, January 17th. Robert W. Baird dropped their price target on Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, Truist Financial dropped their price target on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.27.

Polaris Stock Performance

Shares of PII opened at $83.81 on Monday. The company has a market cap of $4.74 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.45 and a beta of 1.60. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. The stock has a 50-day moving average price of $92.40 and a 200-day moving average price of $91.30. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49.

Institutional Trading of Polaris

Several hedge funds and other institutional investors have recently bought and sold shares of PII. AE Wealth Management LLC lifted its position in Polaris by 37.3% in the third quarter. AE Wealth Management LLC now owns 2,993 shares of the company’s stock valued at $312,000 after purchasing an additional 813 shares during the last quarter. IFP Advisors Inc lifted its position in Polaris by 172.9% in the third quarter. IFP Advisors Inc now owns 1,078 shares of the company’s stock valued at $112,000 after purchasing an additional 683 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Polaris by 6.1% in the third quarter. DAVENPORT & Co LLC now owns 2,620 shares of the company’s stock valued at $273,000 after purchasing an additional 150 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Polaris during the third quarter valued at approximately $466,000. Finally, Golden State Equity Partners increased its stake in shares of Polaris by 17.5% during the third quarter. Golden State Equity Partners now owns 3,200 shares of the company’s stock valued at $333,000 after buying an additional 476 shares during the period. Institutional investors own 88.06% of the company’s stock.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.66 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.64 annualized dividend and a yield of 3.15%. Polaris’s payout ratio is currently 38.71%.

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.