Polaris (NYSE:PII) Releases Earnings Results, Misses Expectations By $0.15 EPS

Polaris (NYSE:PII) released its quarterly earnings results on Tuesday. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15), Briefing.com reports. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business posted $2.71 earnings per share. The firm’s quarterly revenue was down 23.4% on a year-over-year basis. Polaris updated its FY 2024 guidance to 3.210-3.210 EPS.

Polaris Stock Performance

Shares of NYSE:PII traded down $0.37 during trading on Thursday, hitting $69.31. 47,913 shares of the stock traded hands, compared to its average volume of 728,025. The company has a quick ratio of 0.40, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 7.48 and a beta of 1.51. The company has a fifty day moving average price of $82.04 and a two-hundred day moving average price of $82.04. Polaris has a 52-week low of $69.27 and a 52-week high of $100.91.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PII shares. Citigroup lowered their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird lowered their target price on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday. Royal Bank of Canada lowered their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday. Bank of America lowered 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. Finally, Truist Financial lowered their target price on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.36.

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.