Polaris (NYSE:PII) Issues FY 2024 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 7.786-8.244 for the period, compared to the consensus EPS estimate of 7.870. The company issued revenue guidance of $8.3 billion-$8.5 billion, compared to the consensus revenue estimate of $8.4 billion. Polaris also updated its FY24 guidance to $7.79-$8.24 EPS.

Polaris Trading Down 1.7 %

Polaris stock traded down $1.48 during mid-day trading on Wednesday, hitting $85.02. The company’s stock had a trading volume of 432,928 shares, compared to its average volume of 684,269. The company has a current ratio of 1.39, a quick ratio of 0.46 and a debt-to-equity ratio of 1.31. The stock’s fifty day moving average is $92.93 and its two-hundred day moving average is $91.69. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49. The firm has a market capitalization of $4.80 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 2.39 and a beta of 1.60.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, analysts anticipate that Polaris will post 7.97 EPS for the current year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.66 dividend. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, February 29th. Polaris’s dividend payout ratio (DPR) is presently 30.34%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial cut their price target on Polaris from $96.00 to $92.00 and set a hold rating on the stock in a research note on Wednesday. DA Davidson restated a neutral rating and issued a $80.00 price target on shares of Polaris in a research note on Tuesday, March 5th. BMO Capital Markets cut their price target on Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research note on Wednesday, January 31st. Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 price target on the stock in a research note on Monday, April 8th. Finally, Bank of America assumed coverage on Polaris in a research note on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Polaris currently has a consensus rating of Hold and a consensus price target of $101.55.

Polaris Company Profile

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.