Polaris (NYSE:PII – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.79-$8.24 for the period, compared to the consensus earnings per share estimate of $7.92. The company issued revenue guidance of $8.31-$8.49 billion, compared to the consensus revenue estimate of $8.40 billion.
Polaris Stock Performance
PII opened at $88.27 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.46. The firm has a fifty day moving average price of $92.93 and a 200 day moving average price of $91.69. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49. The stock has a market cap of $4.99 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.37 and a beta of 1.60.
Polaris (NYSE:PII – Get Free Report) last posted its earnings results on Tuesday, January 30th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.69). Polaris had a net margin of 5.63% and a return on equity of 40.98%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm earned $3.46 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities research analysts anticipate that Polaris will post 7.97 earnings per share for the current year.
Polaris Increases Dividend
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on PII shares. BMO Capital Markets cut their price target on shares of Polaris from $100.00 to $95.00 and set a market perform rating for the company in a report on Wednesday, January 31st. Bank of America started coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a report on Wednesday, January 31st. DA Davidson reissued a neutral rating and issued a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Finally, Morgan Stanley raised shares of Polaris from an equal weight rating to an overweight rating and boosted their price target for the stock from $103.00 to $113.00 in a report on Wednesday, January 17th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Polaris currently has an average rating of Hold and an average price target of $104.73.
View Our Latest Stock Analysis on PII
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.
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