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

Polaris (NYSE:PII) issued its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17, Briefing.com reports. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Polaris’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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 Stock Performance

NYSE PII 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 company has a fifty day moving average price of $92.86 and a 200-day moving average price of $91.61. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 2.35 and a beta of 1.60.

Polaris Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, February 29th. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 3.10%. Polaris’s dividend payout ratio (DPR) is 38.71%.

Analyst Ratings Changes

PII has been the topic of several recent research reports. BMO Capital Markets cut their target price on Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $103.00 to $113.00 in a research report on Wednesday, January 17th. Citigroup reduced their price objective on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday. KeyCorp cut their price target on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, January 12th. Finally, StockNews.com raised Polaris from a “hold” rating to a “buy” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.