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

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

Polaris Stock Down 0.3 %

PII stock opened at $71.98 on Wednesday. Polaris has a one year low of $71.18 and a one 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. The company has a fifty day moving average of $82.25 and a 200-day moving average of $82.12. The stock has a market capitalization of $4.01 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 7.59 and a beta of 1.51.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.67%. Polaris’s payout ratio is currently 46.23%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PII. Longbow Research reiterated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. StockNews.com upgraded Polaris from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. KeyCorp decreased their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday. Robert W. Baird reduced their price objective on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Truist Financial cut their target price on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.18.

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.