Polaris (NYSE:PII) Posts Earnings Results, Beats Estimates By $0.17 EPS

Polaris (NYSE:PII - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.17, Briefing.com reports. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The company's revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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

Shares of PII traded down $1.29 during mid-day trading on Wednesday, reaching $85.21. The company had a trading volume of 1,176,846 shares, compared to its average volume of 693,952. Polaris has a twelve month low of $82.00 and a twelve month 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 company's 50-day moving average is $92.86 and its 200-day moving average is $91.61. The company has a market capitalization of $4.81 billion, a P/E ratio of 9.79, a P/E/G ratio of 2.39 and a beta of 1.60.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.66 dividend. This is a boost from Polaris's previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a yield of 3.10%. Polaris's dividend payout ratio is 30.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. KeyCorp cut their target price on Polaris from $115.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday, January 12th. Bank of America began coverage on Polaris in a research report on Wednesday, April 3rd. They issued a "neutral" rating and a $110.00 target price on the stock. Longbow Research raised Polaris from a "neutral" rating to a "buy" rating and set a $120.00 target price on the stock in a research report on Monday, April 8th. Royal Bank of Canada dropped their target price on Polaris from $103.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Finally, Robert W. Baird decreased their price target on Polaris from $110.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $100.27.

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.