Brokers Offer Predictions for Polaris Inc.’s Q2 2023 Earnings (NYSE:PII)
Polaris Inc. (NYSE:PII – Get Rating) – Research analysts at Jefferies Financial Group boosted their Q2 2023 EPS estimates for Polaris in a research report issued on Tuesday, July 26th. Jefferies Financial Group analyst A. Glaessgen now expects that the company will earn $2.50 per share for the quarter, up from their previous estimate of $2.10. Jefferies Financial Group has a “Hold” rating and a $105.00 price objective on the stock. The consensus estimate for Polaris’ current full-year earnings is $10.05 per share. Jefferies Financial Group also issued estimates for Polaris’ Q4 2023 earnings at $3.43 EPS.
Polaris (NYSE:PII – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.36. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Polaris had a return on equity of 43.24% and a net margin of 5.24%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $2.70 EPS.
A number of other brokerages have also issued reports on PII. Robert W. Baird reduced their target price on shares of Polaris from $135.00 to $130.00 in a research report on Wednesday. Northcoast Research reissued a “buy” rating on shares of Polaris in a research note on Tuesday, May 17th. Citigroup cut their price target on Polaris from $145.00 to $139.00 and set a “buy” rating on the stock in a research note on Tuesday, April 19th. BMO Capital Markets lowered their price objective on Polaris from $165.00 to $138.00 in a research report on Wednesday, April 27th. Finally, DA Davidson assumed coverage on shares of Polaris in a research report on Wednesday, May 4th. They set a “neutral” rating and a $99.00 target price on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $128.36.
Polaris Stock Performance
Shares of NYSE:PII opened at $114.21 on Friday. The business has a fifty day moving average of $105.46 and a 200-day moving average of $108.77. The firm has a market cap of $6.80 billion, a PE ratio of 16.55 and a beta of 1.54. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.34 and a current ratio of 1.18. Polaris has a twelve month low of $94.24 and a twelve month high of $135.58.
Hedge Funds Weigh In On Polaris
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PII. Callahan Advisors LLC boosted its position in shares of Polaris by 0.4% during the fourth quarter. Callahan Advisors LLC now owns 20,638 shares of the company’s stock worth $2,268,000 after buying an additional 86 shares during the period. Point72 Hong Kong Ltd grew its stake in shares of Polaris by 1.6% during the 4th quarter. Point72 Hong Kong Ltd now owns 6,068 shares of the company’s stock worth $667,000 after acquiring an additional 94 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of Polaris by 4.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,205 shares of the company’s stock valued at $242,000 after purchasing an additional 98 shares during the last quarter. BerganKDV Wealth Management LLC lifted its position in shares of Polaris by 33.2% in the fourth quarter. BerganKDV Wealth Management LLC now owns 401 shares of the company’s stock worth $44,000 after purchasing an additional 100 shares in the last quarter. Finally, Chiron Capital Management LLC boosted its holdings in Polaris by 1.5% during the first quarter. Chiron Capital Management LLC now owns 6,700 shares of the company’s stock worth $706,000 after purchasing an additional 100 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through six segments: ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
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