Polaris (NYSE:PII) Issues FY 2024 Earnings Guidance

Polaris (NYSE:PII - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.210-3.210 for the period, compared to the consensus EPS estimate of 3.680. The company issued revenue guidance of $7.1 billion-$7.1 billion, compared to the consensus revenue estimate of $7.3 billion.

Polaris Price Performance

Shares of NYSE:PII traded down $7.97 during mid-day trading on Tuesday, reaching $72.22. The stock had a trading volume of 3,112,605 shares, compared to its average volume of 727,562. The company has a market cap of $4.03 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 7.59 and a beta of 1.51. The business's 50 day moving average price is $82.43 and its 200 day moving average price is $82.30. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. Polaris has a 1 year low of $71.18 and a 1 year high of $100.91.

Polaris (NYSE:PII - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts' consensus estimates of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. The firm's revenue was down 11.5% compared to the same quarter last year. Research analysts expect that Polaris will post 3.66 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.66%. Polaris's payout ratio is currently 46.23%.

Analysts Set New Price Targets

Several research firms recently commented on PII. DA Davidson upgraded Polaris from a "neutral" rating to a "buy" rating and set a $87.00 price target for the company in a research report on Thursday, July 25th. Bank of America decreased their target price on Polaris from $86.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on Polaris from $97.00 to $82.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 24th. Longbow Research reissued a "neutral" rating on shares of Polaris in a research report on Wednesday, July 24th. Finally, Citigroup reduced their price target on shares of Polaris from $86.00 to $83.00 and set a "neutral" rating for the company in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $89.18.

About Polaris

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.