Polaris (NYSE:PII) Updates FY 2024 Earnings Guidance

Polaris (NYSE:PII) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.210-3.210 for the period, compared to the consensus EPS estimate of 3.680. The company issued revenue guidance of $7.1 billion-$7.1 billion, compared to the consensus revenue estimate of $7.3 billion.

Polaris Stock Performance

Shares of PII stock opened at $70.78 on Friday. Polaris has a one year low of $68.59 and a one year high of $100.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 1.21. The firm’s 50 day moving average price is $81.81 and its 200-day moving average price is $81.96. The firm has a market cap of $3.95 billion, a P/E ratio of 19.77, a P/E/G ratio of 7.48 and a beta of 1.51.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. Polaris’s revenue was down 23.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 EPS. As a group, equities research analysts predict that Polaris will post 3.25 EPS for the current year.

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.73%. Polaris’s dividend payout ratio is presently 73.74%.

Analysts Set New Price Targets

PII has been the subject of a number of recent research reports. DA Davidson decreased their target price on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a report on Thursday. Bank of America cut their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Longbow Research reiterated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Robert W. Baird decreased their price objective on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.09.

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.