Polaris (NYSE:PII) Releases FY 2024 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.210-3.210 for the period, compared to the consensus earnings per share estimate of 3.680. The company issued revenue guidance of $7.1 billion-$7.1 billion, compared to the consensus revenue estimate of $7.3 billion.

Polaris Price Performance

NYSE:PII opened at $80.19 on Tuesday. The stock has a market capitalization of $4.47 billion, a PE ratio of 14.04, a P/E/G ratio of 7.59 and a beta of 1.51. Polaris has a 1-year low of $71.90 and a 1-year high of $100.91. The firm has a fifty day simple moving average of $82.43 and a 200 day simple moving average of $82.30. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. On average, research analysts expect that Polaris will post 3.66 EPS for the current fiscal year.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Tuesday, September 3rd. Polaris’s payout ratio is currently 46.23%.

Analyst Ratings Changes

Several research analysts have recently commented on PII shares. Citigroup reduced their target price on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Roth Mkm decreased their price objective on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Bank of America cut their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Polaris from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, BMO Capital Markets lowered their price target on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. Eight 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 target price of $89.18.

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.