Polaris (NYSE:PII) Issues Earnings Results, Misses Estimates By $0.15 EPS

Polaris (NYSE:PII - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15), Briefing.com reports. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm posted $2.71 EPS. The company's revenue was down 23.4% compared to the same quarter last year. Polaris updated its FY 2024 guidance to 3.210-3.210 EPS.

Polaris Stock Performance

Shares of Polaris stock traded down $2.54 on Wednesday, reaching $69.68. 1,500,786 shares of the company were exchanged, compared to its average volume of 731,341. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 1.42. The company's 50-day moving average is $82.25 and its two-hundred day moving average is $82.12. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 7.59 and a beta of 1.51. Polaris has a 1-year low of $69.36 and a 1-year high of $100.91.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Tuesday, September 3rd. Polaris's payout ratio is 38.71%.

Analysts Set New Price Targets

Several research firms recently commented on PII. KeyCorp cut their price target on Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday. BMO Capital Markets cut their price target on Polaris from $90.00 to $75.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 24th. Truist Financial cut their price target on Polaris from $92.00 to $82.00 and set a "hold" rating on the stock in a research note on Monday, July 8th. Royal Bank of Canada cut their price objective on Polaris from $82.00 to $73.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Finally, Citigroup cut their price objective on Polaris from $86.00 to $83.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $87.36.

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.