Polaris (NYSE:PII) Releases FY 2024 Earnings Guidance

Polaris (NYSE:PII) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 7.786-8.244 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

PII has been the topic of several recent research reports. BMO Capital Markets lowered their price objective on shares of Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research note on Wednesday, January 31st. Truist Financial reduced their price objective on Polaris from $100.00 to $96.00 and set a hold rating for the company in a research report on Wednesday, January 31st. Morgan Stanley upgraded shares of Polaris from an equal weight rating to an overweight rating and upped their target price for the company from $103.00 to $113.00 in a research note on Wednesday, January 17th. Royal Bank of Canada raised their price target on shares of Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a research report on Wednesday, January 31st. Finally, Bank of America began coverage on Polaris in a research note on Wednesday, April 3rd. They issued a neutral rating and a $110.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $104.73.

Polaris Trading Down 1.4 %

Shares of PII stock traded down $1.20 during trading hours on Tuesday, reaching $87.00. The company had a trading volume of 744,601 shares, compared to its average volume of 674,441. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49. 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 market cap of $4.91 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 2.37 and a beta of 1.60. The company has a 50 day moving average of $92.93 and a 200 day moving average of $91.69.

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

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.66 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a yield of 3.03%. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s payout ratio is currently 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.