Polaris Inc. (NYSE:PII) to Post Q3 2021 Earnings of $2.52 Per Share, Wedbush Forecasts
Polaris Inc. (NYSE:PII) – Equities research analysts at Wedbush lowered their Q3 2021 EPS estimates for Polaris in a research report issued to clients and investors on Tuesday, April 6th. Wedbush analyst J. Hardiman now expects that the company will earn $2.52 per share for the quarter, down from their previous estimate of $3.01. Wedbush currently has a “Outperform” rating and a $153.00 target price on the stock.
PII has been the topic of a number of other reports. Raymond James upped their target price on shares of Polaris from $147.00 to $162.00 and gave the stock a “strong-buy” rating in a research report on Monday, March 29th. Lake Street Capital boosted their target price on Polaris from $128.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, January 26th. Truist lifted their price objective on Polaris from $110.00 to $125.00 in a research report on Wednesday, January 27th. Royal Bank of Canada upped their target price on shares of Polaris from $111.00 to $127.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 27th. Finally, BMO Capital Markets boosted their price target on shares of Polaris from $136.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 27th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Polaris presently has an average rating of “Buy” and a consensus price target of $120.24.
Polaris (NYSE:PII) last released its quarterly earnings results on Monday, January 25th. The company reported $3.34 EPS for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.44. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $1.83 billion. Polaris had a return on equity of 40.78% and a net margin of 0.38%. Polaris’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Polaris’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, February 26th. Polaris’s dividend payout ratio (DPR) is presently 39.87%.
In other Polaris news, SVP James P. Williams sold 30,000 shares of Polaris stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $138.84, for a total value of $4,165,200.00. Following the sale, the senior vice president now owns 48,185 shares of the company’s stock, valued at approximately $6,690,005.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen L. Eastman sold 23,000 shares of the business’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $119.00, for a total value of $2,737,000.00. Following the completion of the sale, the insider now owns 49,752 shares in the company, valued at $5,920,488. The disclosure for this sale can be found here. Insiders sold a total of 187,821 shares of company stock worth $24,733,195 over the last ninety days. 3.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TrimTabs Asset Management LLC acquired a new position in shares of Polaris during the 1st quarter worth about $617,000. Pacer Advisors Inc. grew its holdings in Polaris by 3.5% during the first quarter. Pacer Advisors Inc. now owns 19,678 shares of the company’s stock worth $2,627,000 after purchasing an additional 672 shares during the period. Alpha DNA Investment Management LLC acquired a new position in Polaris during the fourth quarter worth approximately $496,000. HM Payson & Co. raised its stake in Polaris by 304.6% in the fourth quarter. HM Payson & Co. now owns 278,389 shares of the company’s stock valued at $26,525,000 after buying an additional 209,586 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of Polaris by 4.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 102,285 shares of the company’s stock valued at $9,745,000 after buying an additional 4,109 shares during the last quarter. 73.65% of the stock is currently owned by hedge funds and other institutional investors.
Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.
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