Polaris (NYSE:PII – Get Free Report) issued its earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17, Briefing.com reports. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a net margin of 5.63% and a return on equity of 40.98%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 earnings per share. Polaris updated its FY24 guidance to $7.79-$8.24 EPS and its FY 2024 guidance to 7.786-8.244 EPS.
Polaris Price Performance
PII stock traded down $2.04 during mid-day trading on Wednesday, reaching $84.46. 386,140 shares of the company traded hands, compared to its average volume of 683,340. 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 company has a market capitalization of $4.77 billion, a P/E ratio of 9.74, a P/E/G ratio of 2.39 and a beta of 1.60. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The company has a fifty day moving average price of $92.93 and a 200-day moving average price of $91.69.
Polaris Increases Dividend
The business also recently announced 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. This represents a $2.64 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Polaris’s previous quarterly dividend of $0.65. Polaris’s payout ratio is presently 30.34%.
Analyst Upgrades and Downgrades
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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.
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