Polaris (NYSE:PII) Updates FY24 Earnings Guidance

Polaris (NYSE:PII) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.79-$8.24 for the period, compared to the consensus estimate of $7.92. The company issued revenue guidance of $8.31-$8.49 billion, compared to the consensus revenue estimate of $8.40 billion. Polaris also updated its FY 2024 guidance to 7.786-8.244 EPS.

Polaris Stock Performance

NYSE:PII traded down $1.85 during trading hours on Thursday, reaching $83.36. The stock had a trading volume of 2,505,858 shares, compared to its average volume of 716,597. 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 stock has a 50 day simple moving average of $92.75 and a 200 day simple moving average of $91.57. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49. The stock has a market cap of $4.71 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 2.35 and a beta of 1.60.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, research analysts forecast that Polaris will post 7.97 EPS for the current fiscal year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.66 per share. This is an increase 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 dividend on an annualized basis and a yield of 3.17%. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PII shares. KeyCorp decreased their price objective on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a report on Friday, January 12th. Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 price objective on the stock in a report on Monday, April 8th. Royal Bank of Canada reduced their price target on Polaris from $103.00 to $97.00 and set a sector perform rating on the stock in a report on Wednesday. Truist Financial reduced their price target on Polaris from $96.00 to $92.00 and set a hold rating on the stock in a report on Wednesday. Finally, Bank of America initiated coverage on Polaris in a report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $100.27.

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.