Polaris (NYSE:PII) Updates 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 3.480-4.030 for the period, compared to the consensus earnings per share estimate of 7.500. The company issued revenue guidance of $7.1 billion-$7.4 billion, compared to the consensus revenue estimate of $8.3 billion.

Polaris Price Performance

Shares of PII stock traded down $5.92 during trading hours on Tuesday, reaching $76.22. The company’s stock had a trading volume of 815,410 shares, compared to its average volume of 744,934. The firm’s 50 day simple moving average is $79.92 and its 200-day simple moving average is $87.09. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.65 and a beta of 1.53. Polaris has a fifty-two week low of $73.26 and a fifty-two week high of $138.49. The company has a quick ratio of 0.42, a current ratio of 1.47 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. Sell-side analysts forecast that Polaris will post 7.51 earnings per share for the current year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Monday, June 3rd. Polaris’s dividend payout ratio is presently 38.71%.

Analyst Ratings Changes

PII has been the subject of a number of recent research reports. Royal Bank of Canada lowered their target price on Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a report on Wednesday, April 24th. StockNews.com lowered shares of Polaris from a buy rating to a hold rating in a report on Thursday, May 2nd. DA Davidson dropped their price objective on shares of Polaris from $80.00 to $75.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Bank of America started coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price objective for the company. Finally, Longbow Research upgraded shares of Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $97.55.

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.