Polaris (NYSE:PII) Issues Quarterly Earnings Results

Polaris (NYSE:PII) issued its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17, Briefing.com reports. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. Polaris updated its FY24 guidance to $7.79-$8.24 EPS and its FY 2024 guidance to 7.786-8.244 EPS.

Polaris Price Performance

PII stock traded down $1.65 during mid-day trading on Wednesday, hitting $84.85. The stock had a trading volume of 330,248 shares, compared to its average volume of 682,531. 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 has a 52 week low of $82.00 and a 52 week high of $138.49. The firm has a market capitalization of $4.79 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.39 and a beta of 1.60. The firm has a fifty day simple moving average of $92.93 and a 200 day simple moving average of $91.69.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.66 dividend. This is a positive change from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, February 29th. Polaris’s dividend payout ratio (DPR) is currently 30.34%.

Analyst Upgrades and Downgrades

PII has been the topic of a number of research analyst reports. DA Davidson reissued a “neutral” rating and set a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Bank of America assumed coverage on Polaris in a report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price target on the stock. KeyCorp decreased their target price on Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, January 12th. BMO Capital Markets decreased their price target on Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday, January 31st. Finally, Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.09.

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.