KeyCorp Comments on Polaris’ FY2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – KeyCorp issued their FY2024 EPS estimates for shares of Polaris in a research report issued on Wednesday, January 8th. KeyCorp analyst N. Zatzkin forecasts that the company will post earnings of $3.20 per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Polaris’ current full-year earnings is $3.22 per share. KeyCorp also issued estimates for Polaris’ Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at ($0.20) EPS, Q3 2025 earnings at $0.81 EPS, Q4 2025 earnings at $0.79 EPS and FY2025 earnings at $2.25 EPS.

Polaris (NYSE:PII) last posted 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 firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The firm’s revenue for the quarter was down 23.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.71 EPS.

PII has been the subject of a number of other research reports. Truist Financial decreased their price target on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird dropped their price target on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research report on Monday, December 30th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Royal Bank of Canada dropped their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Finally, DA Davidson decreased their price target on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Polaris Price Performance

Shares of NYSE PII opened at $54.09 on Monday. The stock has a market cap of $3.02 billion, a P/E ratio of 15.11, a P/E/G ratio of 6.59 and a beta of 1.53. Polaris has a twelve month low of $52.77 and a twelve month high of $100.91. The stock has a 50 day moving average of $63.35 and a two-hundred day moving average of $74.28. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28.

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.64 annualized dividend and a yield of 4.88%. Polaris’s payout ratio is currently 73.74%.

Hedge Funds Weigh In On Polaris

Hedge funds have recently bought and sold shares of the company. Kiltearn Partners LLP increased its stake in shares of Polaris by 147.9% during the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after purchasing an additional 92,300 shares in the last quarter. FMR LLC increased its holdings in shares of Polaris by 22.0% during the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock worth $11,126,000 after buying an additional 24,103 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Polaris by 545.1% in the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock worth $2,231,000 after purchasing an additional 22,648 shares during the period. Victory Capital Management Inc. lifted its position in Polaris by 167.1% during the third quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after buying an additional 27,375 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of Polaris by 8,867.5% in the third quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock worth $5,322,000 after buying an additional 63,225 shares during the period. 88.06% of the stock is owned by hedge funds and other 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.