FY2024 Earnings Estimate for Polaris Issued By KeyCorp

Polaris Inc. (NYSE:PII) – Analysts at KeyCorp issued their FY2024 EPS estimates for Polaris in a research report issued to clients and investors on Wednesday, January 8th. KeyCorp analyst N. Zatzkin anticipates 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.

A number of other brokerages have also commented on PII. StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Truist Financial lowered their price target on shares of Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird cut their price objective 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. Royal Bank of Canada lowered their target price on shares of 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 cut their price target on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, Polaris has an average rating of “Hold” and an average target price of $84.00.

Polaris Price Performance

Shares of NYSE PII opened at $55.65 on Monday. The firm has a market cap of $3.10 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 6.59 and a beta of 1.53. The business’s 50 day moving average is $63.04 and its 200-day moving average is $74.12. 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 has a 1-year low of $52.77 and a 1-year high of $100.91.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $2.71 earnings per share. The firm’s revenue was down 23.4% compared to the same quarter last year.

Polaris Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio is currently 73.74%.

Institutional Investors Weigh In On Polaris

A number of hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI grew its position in Polaris by 27.9% during the 2nd quarter. National Bank of Canada FI now owns 918 shares of the company’s stock worth $69,000 after acquiring an additional 200 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Polaris by 44.2% during the second quarter. Victory Capital Management Inc. now owns 16,387 shares of the company’s stock worth $1,283,000 after purchasing an additional 5,021 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Polaris during the second quarter worth about $90,000. American Century Companies Inc. increased its stake in shares of Polaris by 311.6% in the second quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock valued at $30,307,000 after buying an additional 292,992 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Polaris by 22.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,303 shares of the company’s stock valued at $1,590,000 after buying an additional 3,686 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

About Polaris

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.