Polaris (NYSE:PII) Releases FY 2024 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.210-3.210 for the period, compared to the consensus earnings per share 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 Trading Down 2.9 %

NYSE:PII opened at $80.19 on Tuesday. 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 $71.90 and a 1-year high of $100.91. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 7.59 and a beta of 1.51. The business’s 50-day moving average price is $82.43 and its two-hundred day moving average price is $82.30.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share 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 during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. On average, equities analysts expect that Polaris will post 3.66 earnings per share for the current year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 annualized dividend and a yield of 3.29%. Polaris’s dividend payout ratio (DPR) is presently 46.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PII. Truist Financial dropped their price objective 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 dropped their price target on Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird decreased their price objective on Polaris from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Longbow Research reissued a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Finally, Bank of America reduced their price target on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.18.

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.