Polaris (NYSE:PII) Issues FY24 Earnings Guidance

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

Analyst Ratings Changes

A number of research firms recently commented on PII. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price objective on the stock in a research note on Monday, April 8th. KeyCorp lowered their target price on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a report on Friday, January 12th. Robert W. Baird dropped their target price on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday. DA Davidson restated a neutral rating and issued a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Finally, Morgan Stanley upgraded shares of Polaris from an equal weight rating to an overweight rating and upped their price objective for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Polaris presently has a consensus rating of Hold and an average price target of $102.09.

Polaris Stock Down 1.9 %

PII stock traded down $1.65 during trading on Wednesday, reaching $84.85. The stock had a trading volume of 330,248 shares, compared to its average volume of 682,531. 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 has a market capitalization of $4.79 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 2.39 and a beta of 1.60. Polaris has a one year low of $82.00 and a one year high of $138.49. The company’s 50 day moving average is $92.93 and its two-hundred day moving average is $91.69.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion for 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%. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. Equities research analysts forecast that Polaris will post 7.97 EPS for the current year.

Polaris Increases Dividend

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

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.