Polaris (NYSE:PII) Announces Earnings Results, Misses Expectations By $0.48 EPS

Polaris (NYSE:PIIGet Rating) announced its earnings results on Tuesday. The company reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.48), MarketWatch Earnings reports. Polaris had a net margin of 6.02% and a return on equity of 49.54%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the business posted $2.30 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Polaris updated its FY22 guidance to $10.10-$10.40 EPS and its FY 2022 guidance to $10.100-$10.400 EPS.

NYSE PII traded down $10.01 during trading hours on Tuesday, hitting $96.77. 43,588 shares of the company’s stock were exchanged, compared to its average volume of 770,885. The stock has a 50-day simple moving average of $110.92 and a 200 day simple moving average of $114.44. Polaris has a 1-year low of $99.68 and a 1-year high of $147.22. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 12.56 and a beta of 1.63. The company has a current ratio of 1.15, a quick ratio of 0.41 and a debt-to-equity ratio of 1.02.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were paid a dividend of $0.64 per share. The ex-dividend date was Monday, February 28th. This represents a $2.56 annualized dividend and a yield of 2.65%. This is a boost from Polaris’s previous quarterly dividend of $0.63. Polaris’s dividend payout ratio (DPR) is currently 32.53%.

PII has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price target on Polaris from $132.00 to $117.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 26th. Citigroup reduced their target price on Polaris from $145.00 to $139.00 and set a “buy” rating for the company in a research note on Tuesday, April 19th. Zacks Investment Research downgraded Polaris from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Truist Financial reduced their price target on Polaris from $125.00 to $120.00 in a research note on Wednesday, January 26th. Finally, StockNews.com initiated coverage on Polaris in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $138.64.

In related news, SVP Dougherty Lucy Clark sold 4,257 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $125.00, for a total transaction of $532,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

A number of large investors have recently made changes to their positions in PII. Morgan Stanley boosted its holdings in Polaris by 64.4% in the second quarter. Morgan Stanley now owns 553,614 shares of the company’s stock worth $75,822,000 after acquiring an additional 216,942 shares in the last quarter. Millennium Management LLC bought a new position in Polaris in the fourth quarter worth approximately $7,332,000. Vident Investment Advisory LLC bought a new position in Polaris in the fourth quarter worth approximately $3,632,000. BlackRock Inc. lifted its holdings in shares of Polaris by 0.6% in the fourth quarter. BlackRock Inc. now owns 4,790,490 shares of the company’s stock valued at $526,522,000 after purchasing an additional 30,039 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Polaris by 18,907.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 19,007 shares of the company’s stock valued at $2,089,000 after purchasing an additional 18,907 shares in the last quarter. Institutional investors and hedge funds own 85.77% of the company’s stock.

Polaris Company Profile (Get Rating)

Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through six 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.

Further Reading

Earnings History for Polaris (NYSE:PII)

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