What is DA Davidson’s Forecast for Polaris FY2024 Earnings?

Polaris Inc. (NYSE:PII) – Research analysts at DA Davidson reduced their FY2024 EPS estimates for shares of Polaris in a report issued on Monday, October 21st. DA Davidson analyst B. Rolle now forecasts that the company will post earnings of $3.50 per share for the year, down from their previous estimate of $3.75. DA Davidson 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.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis.

Other analysts have also recently issued reports about the company. BMO Capital Markets dropped their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. Truist Financial dropped their target price on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. 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 research report on Wednesday, July 24th. KeyCorp lowered their price target on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America cut their price objective on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.18.

Polaris Price Performance

NYSE:PII opened at $72.22 on Tuesday. The stock has a 50 day moving average of $82.25 and a two-hundred day moving average of $82.12. Polaris has a 12 month low of $71.18 and a 12 month high of $100.91. The firm has a market cap of $4.03 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 7.59 and a beta of 1.51. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Tuesday, September 3rd. Polaris’s payout ratio is presently 46.23%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PII. JLB & Associates Inc. lifted its stake in shares of Polaris by 0.5% in the 2nd quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after purchasing an additional 120 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Polaris by 14.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after buying an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Polaris by 2.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock worth $586,000 after buying an additional 172 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in shares of Polaris by 1.2% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after acquiring an additional 187 shares during the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Polaris by 5.0% in the 2nd quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after acquiring an additional 190 shares during the period. 88.06% of the stock is currently 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.