Polaris (NYSE:PII) Releases Earnings Results, Misses Estimates By $0.15 EPS

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

Polaris Price Performance

Polaris stock opened at $71.73 on Friday. The stock has a market capitalization of $4.00 billion, a P/E ratio of 19.77, a P/E/G ratio of 7.48 and a beta of 1.51. Polaris has a 12-month low of $68.59 and a 12-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 firm’s 50-day moving average is $81.81 and its two-hundred day moving average is $81.96.

Polaris Dividend Announcement

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

Wall Street Analysts Forecast Growth

PII has been the topic of a number of recent research reports. Roth Mkm dropped their price objective on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price target on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. BMO Capital Markets lowered their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Robert W. Baird lowered their price objective on Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average target price of $87.09.

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.