Polaris (NYSE:PII) Updates FY24 Earnings Guidance

Polaris (NYSE:PII) 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 Up 1.0 %

NYSE PII opened at $88.27 on Tuesday. The stock has a market cap of $4.99 billion, a PE ratio of 10.15, a P/E/G ratio of 2.37 and a beta of 1.60. Polaris has a fifty-two week low of $82.00 and a fifty-two week high of $138.49. The business has a 50 day moving average price of $92.93 and a two-hundred day moving average price of $91.69. The company has a quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, January 30th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.46 EPS. As a group, sell-side analysts predict that Polaris will post 7.97 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.66 per share. 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 2.99%. The ex-dividend date was Thursday, February 29th. Polaris’s dividend payout ratio is 30.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PII shares. BMO Capital Markets reduced their target price on Polaris from $100.00 to $95.00 and set a market perform rating for the company in a research note on Wednesday, January 31st. Truist Financial reduced their target price on Polaris from $100.00 to $96.00 and set a hold rating for the company in a research note on Wednesday, January 31st. DA Davidson reiterated a neutral rating and set a $80.00 target price on shares of Polaris in a research note on Tuesday, March 5th. Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 target price for the company in a research note on Monday, April 8th. Finally, KeyCorp reduced their price objective on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, January 12th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $104.73.

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.