Polaris (NYSE:PII) Issues Quarterly Earnings Results

Polaris (NYSE:PII) posted its quarterly earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.17, Briefing.com reports. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The company’s quarterly 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 EPS. Polaris updated its FY24 guidance to $7.79-$8.24 EPS and its FY 2024 guidance to 7.786-8.244 EPS.

Polaris Price Performance

Shares of NYSE PII traded down $2.04 during mid-day trading on Wednesday, reaching $84.46. The company’s stock had a trading volume of 386,140 shares, compared to its average volume of 683,340. The stock has a 50-day moving average of $92.93 and a two-hundred day moving average of $91.69. The stock has a market capitalization of $4.77 billion, a P/E ratio of 9.74, a P/E/G ratio of 2.39 and a beta of 1.60. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.46 and a current ratio of 1.39. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, February 29th. Polaris’s dividend payout ratio is 30.34%.

Wall Street Analysts Forecast Growth

PII has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price on Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. KeyCorp decreased their target price on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, January 12th. Robert W. Baird decreased their target price on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial decreased their target price on shares of Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.55.

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.