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

by · The Cerbat Gem

Polaris (NYSE:PII – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $2.71 EPS. Polaris’s revenue was down 23.4% on a year-over-year basis. Polaris updated its FY 2024 guidance to 3.210-3.210 EPS.

Polaris Stock Performance

NYSE PII traded up $1.10 on Thursday, reaching $70.78. The stock had a trading volume of 829,341 shares, compared to its average volume of 731,818. 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 company has a market cap of $3.95 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 7.48 and a beta of 1.51. The firm has a fifty day moving average of $82.04 and a two-hundred day moving average of $82.04. Polaris has a 1-year low of $68.59 and a 1-year high of $100.91.

Polaris Dividend Announcement

The company 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 $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.73%. Polaris’s dividend payout ratio (DPR) is presently 73.74%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BMO Capital Markets dropped their price objective on Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price target 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. Truist Financial decreased their price objective on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research report on Monday, July 8th. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Bank of America reduced their price target on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Polaris currently has an average rating of “Hold” and an average target price of $87.09.

Check Out Our Latest Analysis on PII

About Polaris

(Get Free Report)

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.

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