Polaris (NYSE:PII) Issues Earnings Results, Misses Expectations By $0.89 EPS

Polaris (NYSE:PII) released its quarterly earnings data on Tuesday. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89), Briefing.com reports. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. Polaris updated its FY 2024 guidance to 3.480-4.030 EPS.

Polaris Trading Up 4.7 %

PII stock traded up $3.73 on Friday, hitting $82.76. 657,970 shares of the company were exchanged, compared to its average volume of 785,145. Polaris has a twelve month low of $71.90 and a twelve month high of $138.49. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.42. The business’s fifty day moving average is $79.36 and its two-hundred day moving average is $86.86. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 6.82 and a beta of 1.53.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PII. DA Davidson raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Thursday. Roth Mkm reduced their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday. KeyCorp reduced their price target on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial reduced their price target 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. Finally, StockNews.com downgraded shares of Polaris from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $89.18.

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.