Polaris (NYSE:PII) Announces Quarterly Earnings Results, Beats Estimates By $0.49 EPS

Key Points

• Polaris beat quarterly earnings expectations: The company reported $1.08 in EPS, $0.49 above estimates, while revenue reached $2.04 billion versus the $1.90 billion consensus. Revenue increased 10.9% year over year.
• Shares rose following the results, trading up $4.14 to $59.29, though the stock remains below its 200-day moving average and has a negative price-to-earnings ratio.
• Analysts remain cautious: Polaris has a consensus “Hold” rating and an average price target of $63, while the company continues to offer a quarterly dividend of $0.68 per share, representing a 4.6% yield.

Polaris (NYSE:PII - Get Free Report) issued its quarterly earnings results on Monday. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.49, FiscalAI reports. Polaris had a negative net margin of 3.50% and a positive return on equity of 16.77%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company earned ($0.28) EPS. Polaris's quarterly revenue was up 10.9% on a year-over-year basis.

Polaris Price Performance

Shares of Polaris stock traded up $4.14 on Tuesday, hitting $59.29. The company's stock had a trading volume of 264,164 shares, compared to its average volume of 991,880. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.47 and a current ratio of 1.20. Polaris has a 1 year low of $47.14 and a 1 year high of $77.98. The firm has a fifty day moving average price of $57.15 and a 200-day moving average price of $62.85. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -12.67 and a beta of 1.32.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.6%. Polaris's dividend payout ratio (DPR) is -58.75%.

Analysts Set New Price Targets

Several brokerages have commented on PII. Weiss Ratings upgraded shares of Polaris from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada increased their price objective on shares of Polaris from $65.00 to $75.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 29th. Zacks Research cut shares of Polaris from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. UBS Group decreased their target price on shares of Polaris from $67.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday, September 18th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Polaris in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Polaris currently has a consensus rating of "Hold" and an average target price of $63.00.

Polaris Company Profile

Polaris Inc is a manufacturer of powersports products headquartered in Medina, Minnesota. Founded in 1954, the company began as a snowmobile manufacturer and has expanded into a diversified portfolio of off-road vehicles, motorcycles, snowmobiles and boats.

Its off-road vehicle lineup includes utility and recreational models sold under brands such as RANGER, RZR, Sportsman and GENERAL. Polaris also manufactures snowmobiles under the Polaris brand and motorcycles through Indian Motorcycle and Slingshot.

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