Polaris (NYSE:PII) Updates FY24 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.79-$8.24 for the period, compared to the consensus earnings per share estimate of $7.92. The company issued revenue guidance of $8.31-$8.49 billion, compared to the consensus revenue estimate of $8.40 billion. Polaris also updated its FY 2024 guidance to 7.786-8.244 EPS.

Polaris Stock Performance

PII stock traded up $0.94 during midday trading on Friday, hitting $84.22. The stock had a trading volume of 16,889 shares, compared to its average volume of 707,862. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.50 and a beta of 1.60. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The stock has a 50-day simple moving average of $92.75 and a 200 day simple moving average of $91.57. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $2.05 earnings per share. As a group, equities research analysts anticipate that Polaris will post 7.93 earnings per share for the current year.

Polaris Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.13%. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Robert W. Baird cut their price objective on Polaris from $110.00 to $100.00 and set an outperform rating for the company in a report on Wednesday. Truist Financial lowered their target price on Polaris from $96.00 to $92.00 and set a hold rating for the company in a research note on Wednesday. Citigroup lowered their target price on Polaris from $100.00 to $96.00 and set a neutral rating for the company in a research note on Wednesday. KeyCorp lowered their target price on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research note on Friday, January 12th. Finally, Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 target price for the company in a research note on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $100.27.

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.