Polaris (NYSE:PII – Get Free Report) released its earnings results on Monday. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.49, FiscalAI reports. Polaris had a negative net margin of 3.50% and a positive return on equity of 16.77%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the company earned ($0.28) earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis.
Polaris Trading Up 7.5%
Shares of NYSE PII traded up $4.14 during mid-day trading on Tuesday, reaching $59.29. 264,164 shares of the company’s stock were exchanged, compared to its average volume of 991,880. The company’s 50-day moving average is $57.15 and its 200-day moving average is $62.85. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.47 and a current ratio of 1.20. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -12.67 and a beta of 1.32. Polaris has a 52-week low of $47.14 and a 52-week high of $77.98.
Polaris Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.68 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.6%. Polaris’s dividend payout ratio is currently -58.75%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on PII. Weiss Ratings upgraded Polaris from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 29th. Citigroup reduced their target price on Polaris from $67.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Wells Fargo & Company decreased their target price on Polaris from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. KeyCorp reaffirmed a “sector weight” rating on shares of Polaris in a research note on Wednesday, July 29th. Finally, Robert W. Baird lowered their target price on shares of Polaris from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Polaris presently has an average rating of “Hold” and a consensus target price of $63.00.
Get Our Latest Stock Report on PII
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.
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