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

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

Polaris Trading Up 2.2%

Shares of NYSE PII opened at $74.68 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 1.21 and a debt-to-equity ratio of 2.72. Polaris has a 12 month low of $47.14 and a 12 month high of $75.92. The company has a market cap of $4.25 billion, a price-to-earnings ratio of -9.53 and a beta of 1.25. The business has a fifty day simple moving average of $68.87 and a 200-day simple moving average of $64.27.

Polaris Dividend Announcement

The business also recently disclosed 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. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, June 1st. Polaris’s dividend payout ratio is -34.69%.

Hedge Funds Weigh In On Polaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in Polaris during the 4th quarter valued at $27,000. Canada Pension Plan Investment Board acquired a new stake in shares of Polaris in the second quarter worth $73,000. NewEdge Advisors LLC boosted its position in shares of Polaris by 34.1% in the second quarter. NewEdge Advisors LLC now owns 1,877 shares of the company’s stock worth $76,000 after buying an additional 477 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 1,830 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Polaris during the fourth quarter valued at $139,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PII. Robert W. Baird raised their price target on shares of Polaris from $67.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Roth Capital reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, April 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Polaris in a report on Tuesday, July 7th. Morgan Stanley lowered 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. Finally, Citigroup lifted their target price on Polaris from $58.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average price target of $65.00.

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.