Polaris (NYSE:PII) Announces Quarterly Earnings Results

Polaris (NYSE:PII) announced its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.06 by $0.17, Briefing.com reports. Polaris had a net margin of 5.63% and a return on equity of 40.98%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the firm earned $2.05 EPS. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Polaris updated its FY24 guidance to $7.79-$8.24 EPS and its FY 2024 guidance to 7.786-8.244 EPS.

Polaris Trading Down 1.9 %

Polaris stock traded down $1.65 during mid-day trading on Wednesday, hitting $84.85. The company’s stock had a trading volume of 330,248 shares, compared to its average volume of 682,531. 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 stock has a market cap of $4.79 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 2.39 and a beta of 1.60. The business has a 50 day moving average price of $92.93 and a 200-day moving average price of $91.69. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.66 dividend. The ex-dividend date was Thursday, February 29th. This is an increase from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 3.11%. Polaris’s payout ratio is currently 30.34%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PII shares. Truist Financial cut their price target on shares of Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. KeyCorp dropped their price objective on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, January 12th. Royal Bank of Canada lifted their price objective 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. Finally, Robert W. Baird dropped their price objective on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.09.

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.