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

Polaris (NYSE:PII) issued its quarterly earnings data on Monday. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.59 by $0.49, FiscalAI reports. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.90 billion. Polaris had a negative net margin of 3.50% and a positive return on equity of 16.77%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.28) EPS.

Polaris Trading Up 7.5%

PII traded up $4.13 during trading on Tuesday, reaching $59.28. 414,763 shares of the stock traded hands, compared to its average volume of 992,342. The company has a quick ratio of 0.47, a current ratio of 1.20 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $3.37 billion, a PE ratio of -12.77 and a beta of 1.32. The stock’s 50-day moving average is $57.15 and its 200 day moving average is $62.85. Polaris has a 12 month low of $47.14 and a 12 month high of $77.98.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.72 dividend on an annualized basis and a yield of 4.6%. Polaris’s dividend payout ratio is -58.75%.

Analyst Ratings Changes

Several research firms have recently issued reports on PII. Zacks Research downgraded Polaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Polaris from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, July 29th. Citigroup reduced their target price on shares of Polaris from $67.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Bank of America restated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 29th. Finally, Robert W. Baird dropped their price target on shares of Polaris from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.