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

Polaris (NYSE:PIIGet Rating) posted its quarterly earnings data 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 return on equity of 49.54% and a net margin of 6.02%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the firm earned $2.30 earnings per share. Polaris’s 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.

PII traded down $8.81 on Tuesday, reaching $97.97. The company had a trading volume of 39,249 shares, compared to its average volume of 770,885. Polaris has a 52-week low of $99.68 and a 52-week high of $147.22. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 12.56 and a beta of 1.63. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.41 and a current ratio of 1.15. The business has a 50 day simple moving average of $110.92 and a 200 day simple moving average of $114.44.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.61%. This is a boost from Polaris’s previous quarterly dividend of $0.63. The ex-dividend date was Monday, February 28th. Polaris’s dividend payout ratio is 32.53%.

PII has been the subject of a number of recent research reports. Morgan Stanley decreased their target price on Polaris from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, January 26th. StockNews.com began coverage on Polaris in a report on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial dropped their price objective on shares of Polaris from $125.00 to $120.00 in a report on Wednesday, January 26th. Royal Bank of Canada cut their target price on shares of Polaris from $132.00 to $117.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 26th. Finally, Zacks Investment Research lowered shares of Polaris from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $138.64.

In other news, SVP Dougherty Lucy Clark sold 4,257 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $125.00, for a total value of $532,125.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Polaris by 0.6% during the fourth quarter. BlackRock Inc. now owns 4,790,490 shares of the company’s stock valued at $526,522,000 after acquiring an additional 30,039 shares during the last quarter. Morgan Stanley grew its holdings in shares of Polaris by 64.4% during the 2nd quarter. Morgan Stanley now owns 553,614 shares of the company’s stock valued at $75,822,000 after purchasing an additional 216,942 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Polaris by 9.0% in the 4th quarter. Parametric Portfolio Associates LLC now owns 171,715 shares of the company’s stock worth $18,873,000 after purchasing an additional 14,185 shares during the period. Barclays PLC raised its position in Polaris by 7.3% in the 4th quarter. Barclays PLC now owns 146,606 shares of the company’s stock worth $16,113,000 after purchasing an additional 9,997 shares during the period. Finally, Millennium Management LLC bought a new stake in Polaris in the fourth quarter worth $7,332,000. 85.77% of the stock is currently owned by institutional investors.

About Polaris (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.

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Earnings History for Polaris (NYSE:PII)

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