Polaris (NYSE:PII) Announces Earnings Results

Polaris (NYSE:PII) issued its quarterly earnings results on Tuesday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17, Briefing.com reports. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business posted $2.05 earnings per share. The business’s quarterly revenue was down 20.3% on a year-over-year basis. 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 Polaris stock opened at $83.36 on Friday. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49. 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 stock has a market capitalization of $4.71 billion, a P/E ratio of 12.22, a PEG ratio of 2.50 and a beta of 1.60. The business has a 50 day simple moving average of $92.75 and a two-hundred day simple moving average of $91.57.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio is presently 38.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PII shares. Robert W. Baird cut their price target on Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a 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 for the company in a research note on Wednesday. Truist Financial decreased their price target on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday. BMO Capital Markets decreased their price target on Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. Finally, Citigroup decreased their price target on Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $100.27.

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.