Polaris (NYSE:PII) Posts Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Polaris (NYSE:PII) posted its earnings results on Tuesday. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15), Briefing.com reports. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. Polaris’s quarterly revenue was down 23.4% on a year-over-year basis. Polaris updated its FY 2024 guidance to 3.210-3.210 EPS.

Polaris Trading Up 0.5 %

Polaris stock traded up $0.33 during trading hours on Wednesday, hitting $72.55. The company had a trading volume of 49,467 shares, compared to its average volume of 724,250. The firm has a market cap of $4.04 billion, a P/E ratio of 12.61, a P/E/G ratio of 7.59 and a beta of 1.51. The company has a 50-day moving average price of $82.25 and a two-hundred day moving average price of $82.12. Polaris has a 1 year low of $71.18 and a 1 year high of $100.91. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 1.42.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.64%. The ex-dividend date was Tuesday, September 3rd. Polaris’s dividend payout ratio is presently 46.23%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PII. BMO Capital Markets lowered their target price on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird reduced their target price on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup decreased their target price on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Thursday, July 25th. Finally, KeyCorp lowered their price objective on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.18.

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.