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

Polaris (NYSE:PII) released its 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. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. Polaris’s quarterly revenue was down 23.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 earnings per share. Polaris updated its FY 2024 guidance to 3.210-3.210 EPS.

Polaris Stock Performance

NYSE PII opened at $71.73 on Friday. The company has a fifty day moving average of $81.81 and a two-hundred day moving average of $81.96. The company has a market capitalization of $4.00 billion, a PE ratio of 19.77, a P/E/G ratio of 7.48 and a beta of 1.51. Polaris has a 1 year low of $68.59 and a 1 year 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.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.68%. Polaris’s dividend payout ratio is currently 73.74%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PII shares. Longbow Research reiterated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Truist Financial reduced their price target on Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Robert W. Baird lowered their price objective on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup reduced their target price on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Bank of America decreased their price target on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.09.

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.