Polaris (NYSE:PII) Issues FY 2024 Earnings Guidance

Polaris (NYSE:PII - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 7.786-8.244 for the period, compared to the consensus EPS 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 Trading Down 1.9 %

NYSE:PII traded down $1.70 during trading hours on Tuesday, hitting $86.50. 1,764,522 shares of the stock were exchanged, compared to its average volume of 687,762. The company has a market capitalization of $4.89 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 2.37 and a beta of 1.60. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The company has a quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The company's 50 day moving average is $92.93 and its two-hundred day moving average is $91.69.

Polaris (NYSE:PII - Get Free Report) last issued its earnings results 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 company had revenue of $2.29 billion for 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%. Polaris's quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $3.46 EPS. On average, sell-side analysts anticipate that Polaris will post 7.97 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a yield of 3.05%. This is a boost from Polaris's previous quarterly dividend of $0.65. Polaris's payout ratio is currently 30.34%.

Analyst Ratings Changes

PII has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on shares of Polaris from $100.00 to $96.00 and set a hold rating for the company in a research report on Wednesday, January 31st. BMO Capital Markets dropped their price target on Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research report on Wednesday, January 31st. KeyCorp dropped their price target on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research report on Friday, January 12th. DA Davidson reissued a neutral rating and set a $80.00 price objective on shares of Polaris in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada increased their price objective on shares of Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a research report on Wednesday, January 31st. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price 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.