Polaris (NYSE:PII) Releases Quarterly Earnings Results, Beats Expectations By $1.21 EPS

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

Polaris Trading Up 2.2%

Shares of PII opened at $74.68 on Tuesday. Polaris has a fifty-two week low of $47.14 and a fifty-two week high of $75.92. The company has a market capitalization of $4.25 billion, a PE ratio of -9.53 and a beta of 1.25. The stock has a fifty day moving average of $68.87 and a two-hundred day moving average of $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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.68 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.72 annualized dividend and a yield of 3.6%. Polaris’s payout ratio is -34.69%.

Analyst Ratings Changes

PII has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Polaris in a report on Tuesday, July 7th. Morgan Stanley cut their price target on Polaris from $74.00 to $69.00 and set an “equal weight” rating for the company in a report on Tuesday, May 19th. Robert W. Baird upped their price objective on Polaris from $67.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Roth Capital reaffirmed a “neutral” rating on shares of Polaris in a research note on Wednesday, April 29th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Polaris in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average price target of $65.00.

Institutional Investors Weigh In On Polaris

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

About Polaris

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.