FY2024 Earnings Forecast for Polaris Issued By DA Davidson

Polaris Inc. (NYSE:PII - Free Report) - Analysts at DA Davidson dropped their FY2024 earnings per share estimates for Polaris in a research note issued to investors on Thursday, October 24th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings per share of $3.15 for the year, down from their prior estimate of $3.50. DA Davidson has a "Buy" rating and a $84.00 price objective on the stock. The consensus estimate for Polaris' current full-year earnings is $3.25 per share. DA Davidson also issued estimates for Polaris' Q4 2024 earnings at $0.81 EPS.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business's revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.71 earnings per share.

A number of other analysts have also recently commented on PII. KeyCorp lowered their price target on Polaris from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday. Bank of America cut their price target on shares of Polaris from $86.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada decreased their price objective on shares of Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a research note on Wednesday. Longbow Research reiterated a "neutral" rating on shares of Polaris in a research note on Wednesday, July 24th. Finally, Roth Mkm reduced their target price on shares of Polaris from $92.00 to $79.00 and set a "neutral" rating for the company in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $87.09.

Polaris Stock Performance

Shares of PII traded up $0.48 during trading hours on Friday, reaching $71.23. 748,138 shares of the company traded hands, compared to its average volume of 731,897. The company has a quick ratio of 0.40, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The business has a fifty day moving average price of $81.58 and a 200-day moving average price of $81.78. Polaris has a 12-month low of $68.59 and a 12-month high of $100.91. The stock has a market capitalization of $3.97 billion, a P/E ratio of 19.90, a P/E/G ratio of 7.48 and a beta of 1.51.

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.71%. Polaris's dividend payout ratio is currently 73.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. New England Capital Financial Advisors LLC purchased a new position in Polaris in the 1st quarter valued at about $25,000. Bessemer Group Inc. lifted its position in shares of Polaris by 174.1% in the first quarter. Bessemer Group Inc. now owns 370 shares of the company's stock valued at $37,000 after acquiring an additional 235 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company's stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Signaturefd LLC increased its position in shares of Polaris by 1,931.3% during the second quarter. Signaturefd LLC now owns 650 shares of the company's stock worth $51,000 after purchasing an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in Polaris in the 2nd quarter valued at $57,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

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.