Equities Analysts Set Expectations for Polaris Inc.’s Q2 2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Investment analysts at DA Davidson boosted their Q2 2024 earnings per share (EPS) estimates for Polaris in a research report issued to clients and investors on Wednesday, July 3rd. DA Davidson analyst B. Rolle now anticipates that the company will post earnings per share of $2.42 for the quarter, up from their prior estimate of $2.32. DA Davidson has a “Neutral” rating and a $75.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $8.01 per share.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company posted $2.05 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year.

Several other research analysts have also commented on the company. Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Monday, April 8th. Citigroup dropped their target price on Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Robert W. Baird dropped their target price on Polaris from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial dropped their target price on Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, Bank of America assumed coverage on Polaris in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $99.36.

Polaris Trading Down 0.4 %

NYSE:PII opened at $75.67 on Thursday. The business’s 50-day moving average is $81.35 and its two-hundred day moving average is $88.42. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.42. Polaris has a 12 month low of $74.25 and a 12 month high of $138.49. The firm has a market capitalization of $4.28 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.49%. The ex-dividend date was Monday, June 3rd. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Trading of Polaris

Several hedge funds and other institutional investors have recently bought and sold shares of PII. Lantz Financial LLC boosted its position in shares of Polaris by 0.8% during the first quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock worth $1,480,000 after buying an additional 114 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Polaris by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 23,679 shares of the company’s stock worth $2,466,000 after buying an additional 120 shares during the period. Fifth Third Bancorp boosted its position in shares of Polaris by 3.3% during the first quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock worth $377,000 after buying an additional 122 shares during the period. New York Life Investment Management LLC boosted its position in shares of Polaris by 2.8% during the fourth quarter. New York Life Investment Management LLC now owns 6,088 shares of the company’s stock worth $577,000 after buying an additional 167 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Polaris by 14.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after buying an additional 169 shares during the period. 88.06% of the stock is owned by institutional investors.

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.