Polaris (NYSE:PII) Releases FY 2024 Earnings Guidance

Polaris (NYSE:PII) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 7.786-8.244 for the period, compared to the consensus earnings per share estimate of 7.870. The company issued revenue guidance of $8.3 billion-$8.5 billion, compared to the consensus revenue estimate of $8.4 billion. Polaris also updated its FY24 guidance to $7.79-$8.24 EPS.

Analyst Ratings Changes

A number of brokerages have issued reports on PII. Citigroup lowered their target price on Polaris from $100.00 to $96.00 and set a neutral rating for the company in a report on Wednesday. StockNews.com raised shares of Polaris from a hold rating to a buy rating in a research report on Wednesday. Royal Bank of Canada lowered their price objective on Polaris from $103.00 to $97.00 and set a sector perform rating on the stock in a research note on Wednesday. KeyCorp decreased their price target on shares of Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, January 12th. Finally, 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 report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Polaris has a consensus rating of Hold and an average price target of $100.27.

Polaris Stock Performance

Shares of PII stock traded up $1.54 during trading hours on Friday, reaching $84.82. 41,084 shares of the company’s stock were exchanged, compared to its average volume of 708,098. The company’s 50 day moving average is $92.75 and its two-hundred day moving average is $91.57. 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 market cap of $4.79 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. Equities research analysts anticipate that Polaris will post 7.93 EPS for the current fiscal year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.66 per share. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Thursday, February 29th. Polaris’s payout ratio is presently 38.71%.

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.