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

Key Points

• Polaris reported adjusted EPS of $1.97, beating the $0.76 analyst consensus by $1.21. Quarterly revenue was $2.02 billion, also ahead of expectations of $1.95 billion.
• Shares opened at $74.68, near the company’s 52-week high of $75.92. Polaris declared a quarterly dividend of $0.68 per share, representing a 3.6% annualized yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $65.00; institutional investors own 88.06% of the stock.

Polaris (NYSE:PII - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.