Polaris Inc. (NYSE:PII) Expected to Earn Q2 2024 Earnings of $2.32 Per Share

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Polaris in a note issued to investors on Monday, April 29th. DA Davidson analyst B. Rolle forecasts that the company will post earnings of $2.32 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $80.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $8.00 per share.

Other analysts have also issued research reports about the company. Morgan Stanley raised Polaris from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $113.00 in a research report on Wednesday, January 17th. Bank of America assumed coverage on Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price target on the stock. Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Monday, April 8th. Robert W. Baird decreased their price target on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Finally, Citigroup cut their price target on Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.27.

Polaris Price Performance

Polaris stock opened at $86.85 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The firm has a market cap of $4.91 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. The company’s 50 day moving average is $92.40 and its two-hundred day moving average is $91.30.

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

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.66 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.04%. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PII. Creekmur Asset Management LLC purchased a new stake in shares of Polaris during the 4th quarter worth about $27,000. BKM Wealth Management LLC purchased a new position in shares of Polaris in the 4th quarter valued at $31,000. Verity & Verity LLC acquired a new position in shares of Polaris during the 1st quarter valued at $37,000. First United Bank & Trust purchased a new stake in Polaris during the 4th quarter worth $40,000. Finally, Larson Financial Group LLC increased its holdings in Polaris by 536.5% in the 3rd quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock valued at $42,000 after purchasing an additional 338 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.