FY2024 Earnings Forecast for Polaris Issued By DA Davidson

Polaris Inc. (NYSE:PII - Free Report) - Equities research analysts at DA Davidson reduced their FY2024 earnings estimates for Polaris in a research note issued on Monday, October 21st. DA Davidson analyst B. Rolle now expects that the company will earn $3.50 per share for the year, down from their previous estimate of $3.75. DA Davidson currently has a "Buy" rating and a $87.00 price target on the stock. The consensus estimate for Polaris' current full-year earnings is $3.66 per share.

A number of other equities research analysts also recently issued reports on PII. StockNews.com upgraded shares of Polaris from a "sell" rating to a "hold" rating in a report on Tuesday, September 17th. Bank of America lowered their price objective on shares of Polaris from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday, July 24th. BMO Capital Markets reduced their target price on Polaris from $90.00 to $75.00 and set a "market perform" rating on the stock in a report on Wednesday, July 24th. Robert W. Baird lowered their price target on Polaris from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Finally, Longbow Research restated a "neutral" rating on shares of Polaris in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Polaris presently has an average rating of "Hold" and an average price target of $89.18.

Polaris Trading Down 9.9 %

NYSE:PII traded down $7.97 during mid-day trading on Tuesday, reaching $72.22. The company's stock had a trading volume of 3,112,605 shares, compared to its average volume of 727,562. Polaris has a twelve month low of $71.18 and a twelve month high of $100.91. The company's fifty day simple moving average is $82.25 and its two-hundred day simple moving average is $82.12. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. The stock has a market cap of $4.03 billion, a P/E ratio of 12.65, a P/E/G ratio of 7.59 and a beta of 1.51.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts' consensus estimates of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same period in the prior year, the firm earned $2.42 EPS. Polaris's revenue for the quarter was down 11.5% on a year-over-year basis.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.66 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.66%. Polaris's dividend payout ratio (DPR) is 46.23%.

Hedge Funds Weigh In On Polaris

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Polaris by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company's stock valued at $590,924,000 after purchasing an additional 94,680 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Polaris by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company's stock valued at $76,994,000 after buying an additional 96,194 shares during the last quarter. American Century Companies Inc. raised its stake in Polaris by 311.6% during the second quarter. American Century Companies Inc. now owns 387,012 shares of the company's stock worth $30,307,000 after acquiring an additional 292,992 shares during the period. ProShare Advisors LLC lifted its holdings in Polaris by 11.1% in the second quarter. ProShare Advisors LLC now owns 359,039 shares of the company's stock worth $28,116,000 after acquiring an additional 35,952 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Polaris by 29.9% in the first quarter. LSV Asset Management now owns 340,050 shares of the company's stock worth $34,046,000 after acquiring an additional 78,178 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.