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

Polaris Inc. (NYSE:PII) – Equities researchers at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Polaris in a research note issued on Thursday, October 24th. DA Davidson analyst B. Rolle now forecasts that the company will post earnings per share of $3.15 for the year, down from their previous estimate of $3.50. DA Davidson has a “Buy” rating and a $84.00 price target on the stock. The consensus estimate for Polaris’ current full-year earnings is $3.25 per share. DA Davidson also issued estimates for Polaris’ Q4 2024 earnings at $0.81 EPS.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $2.71 EPS. The company’s quarterly revenue was down 23.4% on a year-over-year basis.

Several other equities research analysts have also recently issued reports on the company. Robert W. Baird reduced their target price on Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday. KeyCorp decreased their price objective on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday. Roth Mkm decreased their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Truist Financial dropped their price objective on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $87.09.

Polaris Stock Performance

Shares of NYSE PII opened at $70.78 on Friday. The firm’s fifty day moving average is $81.81 and its two-hundred day moving average is $81.96. Polaris has a 52-week low of $68.59 and a 52-week high of $100.91. The company has a market cap of $3.95 billion, a P/E ratio of 19.77, a P/E/G ratio of 7.48 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 1.21.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.73%. Polaris’s dividend payout ratio is 73.74%.

Institutional Investors Weigh In On Polaris

A number of institutional investors and hedge funds have recently modified their holdings of the business. JLB & Associates Inc. increased its stake in Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock worth $1,917,000 after purchasing an additional 120 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Polaris by 14.5% in the 1st 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 period. Linden Thomas Advisory Services LLC grew its stake in Polaris by 2.4% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock worth $586,000 after acquiring an additional 172 shares in the last quarter. 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 worth $1,262,000 after acquiring an additional 187 shares during the period. Finally, Isthmus Partners LLC raised its stake in shares of Polaris by 5.0% during the second quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after acquiring an additional 190 shares in the last quarter. 88.06% of the stock is owned by 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.