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 Stock Performance

NYSE PII traded down $1.48 during trading hours on Wednesday, hitting $85.02. 432,928 shares of the company’s stock traded hands, compared to its average volume of 684,269. The firm has a market capitalization of $4.80 billion, a P/E ratio of 9.73, a P/E/G ratio of 2.39 and a beta of 1.60. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The business’s fifty day moving average price is $92.93 and its two-hundred day moving average price is $91.69. The company has a current ratio of 1.39, a quick ratio of 0.46 and a debt-to-equity ratio of 1.31.

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

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.66 dividend. 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 dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, February 29th. Polaris’s dividend payout ratio is presently 30.34%.

Analysts Set New Price Targets

PII has been the subject of a number of research reports. Longbow Research upgraded shares of Polaris from a neutral rating to a buy rating and set a $120.00 target price for the company in a research report on Monday, April 8th. 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. Truist Financial reduced their target price on shares of Polaris from $96.00 to $92.00 and set a hold rating on the stock in a research note on Wednesday. BMO Capital Markets reduced 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. Finally, Robert W. Baird reduced their target price on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price 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.