Polaris (NYSE:PII) Releases Earnings Results, Misses Estimates By $0.15 EPS
by Doug Wharley · The Cerbat GemPolaris (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
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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