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 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.

Analyst Upgrades and Downgrades

PII has been the topic of several analyst reports. Bank of America began coverage on Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 target price on the stock. 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 report on Monday, April 8th. Citigroup cut their price target on shares of Polaris from $100.00 to $96.00 and set a neutral rating on the stock in a report on Wednesday. DA Davidson reiterated a neutral rating and issued a $80.00 price objective on shares of Polaris in a research note on Tuesday, March 5th. Finally, KeyCorp cut their target price on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, January 12th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $100.27.

Polaris Price Performance

NYSE PII traded down $1.85 during trading hours on Thursday, hitting $83.36. The company had a trading volume of 2,505,858 shares, compared to its average volume of 716,597. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 2.35 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. The firm has a 50 day simple moving average of $92.75 and a 200 day simple moving average of $91.57.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business earned $2.05 EPS. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities research analysts expect that Polaris will post 7.97 earnings per share for the current year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.66 per share. This is a positive change from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.64 annualized dividend and a dividend yield of 3.17%. Polaris’s payout ratio is presently 38.71%.

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.