Polaris (NYSE:PII) Updates 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PII shares. Truist Financial reduced their price objective on Polaris from $96.00 to $92.00 and set a hold rating for the company in a research report on Wednesday. Robert W. Baird decreased their price target on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research note on Wednesday. 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. KeyCorp cut their target price on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research report on Friday, January 12th. Finally, BMO Capital Markets decreased their price objective 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. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $100.27.

Polaris Stock Performance

PII traded up $1.54 during midday trading on Friday, reaching $84.82. The company had a trading volume of 41,084 shares, compared to its average volume of 708,098. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49. The business has a 50-day moving average price of $92.75 and a two-hundred day moving average price of $91.57. The stock has a market cap of $4.79 billion, a PE ratio of 12.22, a P/E/G ratio of 2.50 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.

Polaris (NYSE:PII) last issued 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 return on equity of 31.39% and a net margin of 4.63%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, sell-side analysts expect that Polaris will post 7.93 earnings per share for the current fiscal year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.11%. 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. Polaris’s payout ratio is currently 38.71%.

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.