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 earnings per share (EPS) guidance of 3.210-3.210 for the period, compared to the consensus estimate of 3.680. The company issued revenue guidance of $7.1 billion-$7.1 billion, compared to the consensus revenue estimate of $7.3 billion.

Polaris Price Performance

NYSE PII traded down $0.37 during mid-day trading on Thursday, hitting $69.31. The stock had a trading volume of 47,913 shares, compared to its average volume of 728,025. The firm’s 50 day moving average is $82.04 and its 200 day moving average is $82.04. Polaris has a twelve month low of $69.27 and a twelve month high of $100.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.40. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 7.48 and a beta of 1.51.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company posted $2.71 earnings per share. The firm’s revenue for the quarter was down 23.4% compared to the same quarter last year. Equities research analysts forecast that Polaris will post 3.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on PII. BMO Capital Markets dropped their target price on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada dropped their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday. Robert W. Baird lowered their price target on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday. Truist Financial lowered their price target on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. Finally, DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target for the company in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $87.36.

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.