Polaris (NYSE:PII) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

PII has been the topic of several recent research reports. KeyCorp reduced their target price on shares of Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a report on Friday, January 12th. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a research note on Monday, April 8th. Royal Bank of Canada lifted their target price on shares of Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. Morgan Stanley upgraded shares of Polaris from an equal weight rating to an overweight rating and boosted their price objective for the company from $103.00 to $113.00 in a research report on Wednesday, January 17th. Finally, DA Davidson reiterated a neutral rating and set a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Polaris presently has an average rating of Hold and an average target price of $104.73.

Polaris Stock Down 1.0 %

Shares of NYSE PII traded down $0.85 during mid-day trading on Tuesday, hitting $87.35. 464,425 shares of the stock traded hands, compared to its average volume of 669,667. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 2.37 and a beta of 1.60. The stock has a fifty day moving average price of $92.93 and a 200-day moving average price of $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 quick ratio of 0.46 and a current ratio of 1.39.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.69). The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Polaris had a net margin of 5.63% and a return on equity of 40.98%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.46 EPS. Research analysts anticipate that Polaris will post 7.97 EPS for the current year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.66 per share. This is an increase from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.02%. Polaris’s dividend payout ratio (DPR) is currently 30.34%.

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.