Polaris (NYSE:PII) Shares Gap Up Following Earnings Beat

Polaris Inc. (NYSE:PII)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $49.48, but opened at $56.15. Polaris shares last traded at $60.13, with a volume of 582,161 shares changing hands.

The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.35. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Polaris had a net margin of 0.58% and a return on equity of 9.26%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Monday, June 2nd. Polaris’s dividend payout ratio (DPR) is currently 372.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Roth Capital lifted their target price on shares of Polaris from $32.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Citigroup reaffirmed a “sell” rating and set a $27.00 price objective (up from $23.00) on shares of Polaris in a research report on Monday, June 16th. Royal Bank Of Canada lowered their price objective on shares of Polaris from $54.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley lowered their price objective on shares of Polaris from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.58.

Institutional Trading of Polaris

Large investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new stake in Polaris in the fourth quarter worth approximately $611,000. FORA Capital LLC grew its position in Polaris by 521.5% in the fourth quarter. FORA Capital LLC now owns 17,285 shares of the company’s stock worth $996,000 after acquiring an additional 14,504 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Polaris by 162.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,423 shares of the company’s stock worth $427,000 after buying an additional 6,453 shares during the last quarter. RWWM Inc. lifted its stake in shares of Polaris by 377.4% in the fourth quarter. RWWM Inc. now owns 889,698 shares of the company’s stock worth $51,264,000 after buying an additional 703,322 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Polaris in the fourth quarter worth $21,776,000. 88.06% of the stock is owned by institutional investors.

Polaris Price Performance

The stock’s 50 day moving average price is $43.41 and its two-hundred day moving average price is $42.63. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.12 and a quick ratio of 0.37. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 80.33 and a beta of 1.05.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.