Polaris (NYSE:PII) Updates FY24 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.79-$8.24 for the period, compared to the consensus earnings per share 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 Trading Down 1.0 %

Polaris stock traded down $0.85 during midday trading on Tuesday, reaching $87.35. 464,425 shares of the stock traded hands, compared to its average volume of 669,667. The firm has a market cap of $4.93 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 2.37 and a beta of 1.60. The company has a current ratio of 1.39, a quick ratio of 0.46 and a debt-to-equity ratio of 1.31. The company has a 50-day simple moving average of $92.93 and a two-hundred day simple moving average of $91.69. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.69). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.46 EPS. Research analysts expect that Polaris will post 7.97 earnings per share for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.66 dividend. 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 annualized dividend and a dividend yield of 3.02%. Polaris’s payout ratio is 30.34%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley upgraded Polaris from an equal weight rating to an overweight rating and lifted their target price for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a research report on Monday, April 8th. Bank of America initiated coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 target price on the stock. KeyCorp lowered their price target on shares of Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research report on Friday, January 12th. Finally, Royal Bank of Canada boosted their price target on Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a research report on Wednesday, January 31st. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris has a consensus rating of Hold and an average price target of $104.73.

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.