Polaris (NYSE:PII) Updates FY 2024 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.210-3.210 for the period, compared to the consensus estimate of 3.680. The company issued revenue guidance of $7.1 billion-$7.1 billion, compared to the consensus revenue estimate of $7.3 billion.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PII shares. Roth Mkm dropped their target price on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Citigroup dropped their price objective on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. DA Davidson cut their price objective on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, KeyCorp cut their price target on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.09.

Polaris Stock Performance

PII opened at $70.78 on Friday. Polaris has a twelve month low of $68.59 and a twelve month high of $100.91. The firm has a market capitalization of $3.95 billion, a PE ratio of 19.77, a PEG ratio of 7.48 and a beta of 1.51. The company has a current ratio of 1.21, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm’s 50-day moving average price is $81.81 and its 200 day moving average price is $81.96.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris’s revenue for the quarter was down 23.4% on a year-over-year basis. During the same quarter last year, the company earned $2.71 earnings per share. As a group, sell-side analysts expect that Polaris will post 3.25 EPS for the current fiscal year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.73%. Polaris’s payout ratio is currently 73.74%.

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.