Roth Capital Weighs in on Polaris Inc.’s Q2 2024 Earnings (NYSE:PII)

Polaris Inc. (NYSE:PII) – Equities researchers at Roth Capital raised their Q2 2024 earnings estimates for shares of Polaris in a research report issued to clients and investors on Thursday, April 25th. Roth Capital analyst S. Stember now anticipates that the company will earn $1.99 per share for the quarter, up from their previous forecast of $1.85. The consensus estimate for Polaris’ current full-year earnings is $8.00 per share. Roth Capital also issued estimates for Polaris’ FY2024 earnings at $8.11 EPS and Q1 2025 earnings at $0.86 EPS.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The business’s revenue was down 20.3% on a year-over-year basis.

PII has been the subject of a number of other research reports. StockNews.com upgraded shares of Polaris from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird lowered their target price on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $103.00 to $113.00 in a report on Wednesday, January 17th. Citigroup lowered their target price on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $100.27.

Polaris Trading Up 0.6 %

Shares of PII stock opened at $83.81 on Monday. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 2.45 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. The firm has a fifty day moving average of $92.40 and a 200-day moving average of $91.30.

Institutional Investors Weigh In On Polaris

A number of hedge funds have recently added to or reduced their stakes in the stock. Semanteon Capital Management LP bought a new position in shares of Polaris in the 4th quarter valued at about $1,270,000. International Assets Investment Management LLC boosted its stake in shares of Polaris by 10,524.7% in the 4th quarter. International Assets Investment Management LLC now owns 61,411 shares of the company’s stock valued at $5,820,000 after purchasing an additional 60,833 shares during the last quarter. Camarda Financial Advisors LLC bought a new position in shares of Polaris in the 3rd quarter valued at about $1,354,000. Quantbot Technologies LP bought a new position in shares of Polaris in the 3rd quarter valued at about $1,227,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Polaris by 35.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 114,630 shares of the company’s stock valued at $11,938,000 after purchasing an additional 30,114 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, June 3rd. Polaris’s dividend payout ratio is currently 38.71%.

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.