Polaris (NYSE:PII) Issues Earnings Results, Beats Expectations By $0.17 EPS

Polaris (NYSE:PII) posted its quarterly earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business earned $2.05 EPS. The firm’s revenue for the quarter 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 Stock Performance

NYSE:PII opened at $83.36 on Friday. The stock’s 50-day simple moving average is $92.75 and its 200 day simple moving average is $91.57. The firm has a market capitalization of $4.71 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 3.17%. Polaris’s dividend payout ratio (DPR) is 38.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Wednesday. KeyCorp lowered their price objective on Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, January 12th. Truist Financial lowered their price objective on Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a research report on Wednesday. Morgan Stanley upgraded Polaris from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $103.00 to $113.00 in a research report on Wednesday, January 17th. Finally, DA Davidson reiterated a “neutral” rating and set a $80.00 price objective on shares of Polaris in a research report on Tuesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.27.

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.