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

Polaris (NYSE:PII) posted its earnings results on Monday. The company reported $1.97 EPS for the quarter, beating 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 firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm posted ($1.39) EPS.

Polaris Trading Up 2.2%

Shares of PII stock opened at $74.68 on Tuesday. The business’s fifty day moving average price is $68.87 and its 200 day moving average price is $64.27. The firm has a market capitalization of $4.25 billion, a PE ratio of -9.53 and a beta of 1.25. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.21 and a quick ratio of 0.48. Polaris has a 1-year low of $47.14 and a 1-year high of $75.92.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.68 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.72 dividend on an annualized basis and a yield of 3.6%. Polaris’s dividend payout ratio (DPR) is presently -34.69%.

Analyst Ratings Changes

A number of research firms recently issued reports on PII. Wells Fargo & Company raised their price target on Polaris from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Citigroup boosted their price objective on Polaris from $58.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Polaris in a research report on Tuesday, July 7th. Raymond James Financial reiterated an “outperform” rating on shares of Polaris in a research note on Wednesday, April 29th. Finally, Robert W. Baird raised their price objective on shares of Polaris from $67.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. One 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 company. According to data from MarketBeat, Polaris presently has an average rating of “Hold” and an average target price of $65.00.

Institutional Investors Weigh In On Polaris

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of Polaris by 564.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,752,801 shares of the company’s stock worth $70,673,000 after acquiring an additional 1,489,157 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Polaris in the 4th quarter valued at approximately $81,447,000. Goldman Sachs Group Inc. increased its stake in Polaris by 677.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 544,295 shares of the company’s stock valued at $22,283,000 after purchasing an additional 474,259 shares in the last quarter. Invesco Ltd. raised its holdings in Polaris by 79.2% during the fourth quarter. Invesco Ltd. now owns 1,065,910 shares of the company’s stock worth $67,419,000 after purchasing an additional 471,106 shares during the last quarter. Finally, State Street Corp boosted its position in Polaris by 15.7% during the second quarter. State Street Corp now owns 3,137,866 shares of the company’s stock worth $127,554,000 after purchasing an additional 426,482 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.