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

Polaris Inc. (NYSE:PIIFree Report) – KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Polaris in a 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:PIIGet Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share 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 net margin of 2.64% and a return on equity of 17.92%. The business’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS.

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

Read Our Latest Report on PII

Polaris Trading Up 0.2 %

PII opened at $55.65 on Monday. Polaris has a twelve month low of $52.77 and a twelve month high of $100.91. The company has a fifty day moving average of $63.04 and a 200-day moving average of $74.12. The stock has a market cap of $3.10 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 6.59 and a beta of 1.53. The company has a quick ratio of 0.32, a current ratio of 1.21 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. Investors 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 dividend yield of 4.74%. Polaris’s payout ratio is 73.74%.

Institutional Investors Weigh In On Polaris

Institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC grew its stake in shares of Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after acquiring an additional 294 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after buying an additional 389 shares during the last quarter. Quarry LP grew its holdings in shares of Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Polaris by 232.6% during the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in Polaris during the second quarter worth $57,000. Institutional investors own 88.06% of the company’s stock.

About Polaris

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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.

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