DA Davidson Has Bearish Forecast for Polaris FY2024 Earnings

Polaris Inc. (NYSE:PII) – Analysts at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for shares of Polaris in a research report issued to clients and investors on Thursday, October 24th. DA Davidson analyst B. Rolle now anticipates that the company will post earnings of $3.15 per share for the year, down from their prior forecast of $3.50. DA Davidson currently has a “Buy” rating and a $84.00 target price 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) last released its earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 17.92% and a net margin of 2.64%. The company’s revenue was down 23.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share.

Several other brokerages also recently weighed in on PII. Truist Financial reduced their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada decreased their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday. Citigroup dropped their price objective on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Longbow Research restated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Finally, Roth Mkm reduced their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Polaris presently has an average rating of “Hold” and an average target price of $87.09.

Polaris Stock Up 1.6 %

NYSE:PII opened at $70.78 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 1.21. The firm has a market cap of $3.95 billion, a P/E ratio of 19.77, a P/E/G ratio of 7.48 and a beta of 1.51. Polaris has a fifty-two week low of $68.59 and a fifty-two week high of $100.91. The firm has a 50-day simple moving average of $81.81 and a two-hundred day simple moving average of $81.96.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.73%. Polaris’s payout ratio is 73.74%.

Hedge Funds Weigh In On Polaris

A number of institutional investors have recently bought and sold shares of PII. Nisa Investment Advisors LLC increased its position in Polaris by 1.2% in the third quarter. Nisa Investment Advisors LLC now owns 24,535 shares of the company’s stock worth $2,042,000 after buying an additional 300 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Polaris by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,144 shares of the company’s stock valued at $511,000 after acquiring an additional 410 shares during the period. Ballentine Partners LLC increased its holdings in Polaris by 22.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,664 shares of the company’s stock worth $305,000 after acquiring an additional 668 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Polaris during the 3rd quarter worth approximately $279,000. Finally, International Assets Investment Management LLC lifted its holdings in Polaris by 1,309.5% during the third quarter. International Assets Investment Management LLC now owns 14,151 shares of the company’s stock valued at $1,178,000 after purchasing an additional 13,147 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

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.