Polaris (NYSE:PII) Sets New 52-Week Low Following Weak Earnings

Shares of Polaris Inc. (NYSE:PII) hit a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $70.36 and last traded at $70.43, with a volume of 274278 shares changing hands. The stock had previously closed at $72.22.

The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. Polaris’s revenue for the quarter was down 23.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.71 EPS.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.73%. Polaris’s dividend payout ratio (DPR) is presently 73.74%.

Wall Street Analysts Forecast Growth

PII has been the subject of a number of analyst reports. Bank of America lowered their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Roth Mkm lowered their target price on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday. DA Davidson lowered their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday. Finally, BMO Capital Markets lowered their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and a consensus target price of $87.09.

Institutional Investors Weigh In On Polaris

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Polaris by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after acquiring an additional 94,680 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Polaris by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after purchasing an additional 96,194 shares during the last quarter. American Century Companies Inc. boosted its holdings in Polaris by 311.6% during the second quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after purchasing an additional 292,992 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Polaris by 11.1% during the second quarter. ProShare Advisors LLC now owns 359,039 shares of the company’s stock worth $28,116,000 after purchasing an additional 35,952 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in Polaris by 29.9% during the first quarter. LSV Asset Management now owns 340,050 shares of the company’s stock worth $34,046,000 after purchasing an additional 78,178 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Polaris Trading Up 1.6 %

The firm has a market capitalization of $3.95 billion, a PE ratio of 19.77, a PEG ratio of 7.48 and a beta of 1.51. The firm’s fifty day moving average is $81.81 and its two-hundred day moving average is $81.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.40.

About Polaris

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.