Polaris (NYSE:PII) Posts Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Polaris (NYSE:PII) posted its quarterly earnings data on Tuesday. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business earned $2.71 EPS. The firm’s revenue for the quarter 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 Down 9.9 %

Polaris stock opened at $72.22 on Wednesday. Polaris has a 52 week low of $71.18 and a 52 week high of $100.91. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 7.59 and a beta of 1.51. The business’s 50-day moving average price is $82.25 and its 200 day moving average price is $82.12. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56.

Polaris Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 46.23%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PII. StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Royal Bank of Canada lowered their target price on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 24th. Longbow Research restated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. DA Davidson upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Thursday, July 25th. Finally, Robert W. Baird cut their target price on Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.09.

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.