Polaris (NYSE:PII) Announces Quarterly Earnings Results

Polaris (NYSE:PII) issued its quarterly earnings data on Tuesday. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.17, Briefing.com reports. Polaris had a net margin of 5.63% and a return on equity of 40.98%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The business’s revenue was down 20.3% on a year-over-year basis. Polaris updated its FY24 guidance to $7.79-$8.24 EPS and its FY 2024 guidance to 7.786-8.244 EPS.

Polaris Trading Down 2.0 %

PII traded down $1.77 during trading on Wednesday, reaching $84.73. 413,135 shares of the company’s stock were exchanged, compared to its average volume of 684,115. Polaris has a one year low of $82.00 and a one year high of $138.49. 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 stock has a market capitalization of $4.79 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 2.39 and a beta of 1.60. The firm has a fifty day moving average price of $92.93 and a two-hundred day moving average price of $91.69.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.12%. 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 presently 30.34%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial decreased their target price on shares of Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a report on Wednesday. Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Monday, April 8th. Finally, BMO Capital Markets decreased their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.55.

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.