Polaris (NYSE:PII) Posts Quarterly Earnings Results, Beats Estimates By $0.66 EPS

Polaris (NYSE:PII) released its quarterly earnings results on Tuesday. The company reported $2.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.66, MarketWatch Earnings reports. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. Polaris had a positive return on equity of 32.38% and a negative net margin of 0.83%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. Polaris updated its FY 2020
Pre-Market guidance to 7.15-7.30 EPS and its FY20 guidance to $7.15-7.30 EPS.

Shares of PII stock opened at $92.38 on Thursday. The company has a market capitalization of $5.67 billion, a P/E ratio of -101.52 and a beta of 2.11. The business’s 50 day moving average is $94.22 and its two-hundred day moving average is $90.18. The company has a current ratio of 0.99, a quick ratio of 0.45 and a debt-to-equity ratio of 1.85. Polaris has a 12-month low of $37.35 and a 12-month high of $110.30.

Several research analysts have recently commented on PII shares. TheStreet raised Polaris from a “c” rating to a “b-” rating in a research report on Tuesday. Lake Street Capital upped their target price on Polaris from $107.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Citigroup started coverage on Polaris in a research report on Tuesday, September 15th. They set a “buy” rating and a $120.00 target price on the stock. Robert W. Baird upgraded Polaris from a “neutral” rating to an “outperform” rating and set a $122.00 price target on the stock in a research note on Monday, October 5th. Finally, Zacks Investment Research upgraded Polaris from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Tuesday, October 6th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $100.73.

In related news, insider Steven Menneto sold 27,825 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $107.00, for a total value of $2,977,275.00. Following the completion of the sale, the insider now owns 17,976 shares of the company’s stock, valued at $1,923,432. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Christopher Musso sold 3,773 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $106.00, for a total value of $399,938.00. Following the completion of the sale, the senior vice president now directly owns 31,374 shares of the company’s stock, valued at approximately $3,325,644. The disclosure for this sale can be found here. Insiders have sold 164,316 shares of company stock valued at $17,692,414 in the last three months. Insiders own 3.20% of the company’s stock.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five 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.

Featured Article: How is a buy-side analyst different from a sell-side analyst?

Earnings History for Polaris (NYSE:PII)

Receive News & Ratings for Polaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polaris and related companies with MarketBeat.com's FREE daily email newsletter.