Polaris (NYSE:PII) Updates FY 2024 Earnings Guidance

Polaris (NYSE:PII) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 7.786-8.244 for the period, compared to the consensus earnings per share estimate of 7.870. The company issued revenue guidance of $8.3 billion-$8.5 billion, compared to the consensus revenue estimate of $8.4 billion. Polaris also updated its FY24 guidance to $7.79-$8.24 EPS.

Polaris Price Performance

Shares of Polaris stock traded down $1.20 during trading on Tuesday, reaching $87.00. 744,601 shares of the stock traded hands, compared to its average volume of 674,441. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.46. The business has a fifty day simple moving average of $92.93 and a two-hundred day simple moving average of $91.69. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 2.37 and a beta of 1.60.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, January 30th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.46 EPS. Sell-side analysts expect that Polaris will post 7.97 EPS for the current year.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.66 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a yield of 3.03%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio (DPR) is currently 30.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 target price for the company in a report on Monday, April 8th. Bank of America initiated coverage on shares of Polaris in a research report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price objective on the stock. BMO Capital Markets dropped their target price on Polaris from $100.00 to $95.00 and set a market perform rating for the company in a research report on Wednesday, January 31st. Morgan Stanley raised Polaris from an equal weight rating to an overweight rating and raised their price target for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. Finally, KeyCorp reduced their price target on shares of Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, January 12th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Polaris currently has a consensus rating of Hold and an average price target of $104.73.

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.