Polaris (NYSE:PII) Releases Quarterly Earnings Results, Misses Expectations By $0.89 EPS

Polaris (NYSE:PII) posted its quarterly earnings results on Tuesday. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.89), Briefing.com reports. Polaris had a net margin of 3.98% and a return on equity of 26.20%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business posted $2.42 EPS. The company’s quarterly revenue was down 11.5% on a year-over-year basis. Polaris updated its FY 2024 guidance to 3.480-4.030 EPS.

Polaris Stock Up 8.4 %

Shares of PII traded up $6.13 during midday trading on Thursday, hitting $79.03. The company had a trading volume of 1,801,634 shares, compared to its average volume of 786,040. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 7.01 and a beta of 1.53. The company’s 50 day moving average price is $79.46 and its 200 day moving average price is $86.92. 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 has a 52 week low of $71.90 and a 52 week high of $138.49.

Wall Street Analyst Weigh In

Several research firms recently commented on PII. Robert W. Baird cut their price target on shares of Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday. Roth Mkm cut their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets lowered their target price on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday. StockNews.com lowered Polaris from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.