Polaris (NYSE:PII) Issues FY24 Earnings Guidance

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

Polaris Price Performance

Shares of PII stock traded up $0.94 during mid-day trading on Friday, hitting $84.22. 16,889 shares of the stock were exchanged, compared to its average volume of 707,862. The firm has a fifty day moving average of $92.75 and a 200 day moving average of $91.57. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The company has a market cap of $4.76 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. Research analysts anticipate that Polaris will post 7.93 earnings per share for the current year.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a yield of 3.13%. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PII. Royal Bank of Canada decreased their price target on shares of Polaris from $103.00 to $97.00 and set a sector perform rating on the stock in a research note on Wednesday. DA Davidson reaffirmed a neutral rating and issued a $80.00 price target on shares of Polaris in a research note on Tuesday, March 5th. Citigroup cut their price objective on shares of Polaris from $100.00 to $96.00 and set a neutral rating for the company in a report on Wednesday. Longbow Research raised shares of Polaris from a neutral rating to a buy rating and set a $120.00 target price on the stock in a research note on Monday, April 8th. Finally, BMO Capital Markets decreased their target price on shares of Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research note on Wednesday, January 31st. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $100.27.

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.