Polaris (NYSE:PII) Releases FY24 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $7.79-$8.24 for the period, compared to the consensus 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

NYSE PII traded down $1.65 on Wednesday, hitting $84.85. 330,248 shares of the stock were exchanged, compared to its average volume of 682,531. The company has a market capitalization of $4.79 billion, a PE ratio of 10.00, a P/E/G ratio of 2.39 and a beta of 1.60. The business’s fifty day moving average is $92.93 and its 200 day moving average is $91.69. 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.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.06 by $0.17. 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%. Polaris’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 earnings per share. Research analysts anticipate that Polaris will post 7.97 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.66 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio is 30.34%.

Analyst Ratings Changes

A number of research analysts have recently commented on PII shares. DA Davidson reissued a neutral rating and issued a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. KeyCorp dropped their price objective on shares of Polaris from $115.00 to $105.00 and set an overweight rating for the company in a report on Friday, January 12th. Truist Financial dropped their price objective on shares of Polaris from $96.00 to $92.00 and set a hold rating for the company in a report on Wednesday. Morgan Stanley upgraded shares of 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 report on Wednesday, January 17th. Finally, Bank of America started coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price target for the company. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $102.09.

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.