Polaris (NYSE:PII) Updates FY24 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY24 earnings guidance on Tuesday morning. 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 Stock Performance

PII opened at $88.27 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.39 and a quick ratio of 0.46. The firm has a fifty day moving average price of $92.93 and a 200 day moving average price of $91.69. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49. The stock has a market cap of $4.99 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.37 and a beta of 1.60.

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

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.66 dividend. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, February 29th. Polaris’s payout ratio is currently 30.34%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PII shares. BMO Capital Markets cut their price target on shares of Polaris from $100.00 to $95.00 and set a market perform rating for the company in a report on Wednesday, January 31st. Bank of America started coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a report on Wednesday, January 31st. DA Davidson reissued a neutral rating and issued a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Finally, Morgan Stanley raised shares of Polaris from an equal weight rating to an overweight rating and boosted their price target for the stock from $103.00 to $113.00 in a report on Wednesday, January 17th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Polaris currently has an average rating of Hold and an average price target of $104.73.

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.