Polaris (NYSE:PII) Posts Earnings Results, Beats Estimates By $1.21 EPS

Polaris (NYSE:PII) posted its earnings results on Monday. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $1.21, FiscalAI reports. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Polaris had a negative net margin of 6.13% and a positive return on equity of 5.91%. During the same period in the previous year, the company posted ($1.39) earnings per share.

Polaris Stock Performance

Shares of PII stock opened at $74.68 on Tuesday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -9.53 and a beta of 1.25. Polaris has a one year low of $47.14 and a one year high of $75.92. The company’s 50-day simple moving average is $68.87 and its 200-day simple moving average is $64.27. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.48 and a current ratio of 1.21.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.72 annualized dividend and a dividend yield of 3.6%. Polaris’s dividend payout ratio (DPR) is presently -34.69%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Polaris during the 4th quarter valued at approximately $27,000. Canada Pension Plan Investment Board acquired a new position in Polaris in the second quarter worth $73,000. NewEdge Advisors LLC increased its stake in Polaris by 34.1% during the second quarter. NewEdge Advisors LLC now owns 1,877 shares of the company’s stock valued at $76,000 after purchasing an additional 477 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Polaris by 582.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,144 shares of the company’s stock valued at $87,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Polaris during the fourth quarter worth $139,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Polaris in a report on Wednesday, April 29th. Citigroup boosted their price target on Polaris from $58.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Roth Capital reissued a “neutral” rating on shares of Polaris in a report on Wednesday, April 29th. Wells Fargo & Company raised their price objective on Polaris from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Finally, Morgan Stanley cut their target price on Polaris from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.00.

Polaris Company Profile

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.