Polaris (NYSE:PII) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Polaris (NYSE:PII) released its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17, Briefing.com reports. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company posted $2.05 EPS. Polaris’s revenue for the quarter was down 20.3% on a year-over-year basis. Polaris updated its FY24 guidance to $7.79-$8.24 EPS and its FY 2024 guidance to 7.786-8.244 EPS.

Polaris Stock Down 1.5 %

Polaris stock opened at $85.21 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.46. The firm has a fifty day moving average price of $92.86 and a two-hundred day moving average price of $91.61. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 2.35 and a beta of 1.60. Polaris has a fifty-two week low of $82.00 and a fifty-two week high of $138.49.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.10%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. Polaris’s payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Polaris from a “hold” rating to a “buy” rating in a research note on Wednesday. Bank of America began coverage on shares of Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective for the company. Truist Financial reduced their price target on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday. Royal Bank of Canada decreased their price target on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, Citigroup cut their price target on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.27.

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.