Polaris (NYSE:PII) Sets New 1-Year Low Following Weak Earnings

Shares of Polaris Inc. (NYSE:PII - Get Free Report) hit a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock 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 the consensus estimate of $0.88 by ($0.15). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.77 billion. The firm's quarterly revenue was down 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 EPS.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Tuesday, September 3rd. Polaris's dividend payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PII shares. Robert W. Baird decreased their target price on shares of Polaris from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday. Citigroup lowered their price objective on shares of Polaris from $86.00 to $83.00 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Roth Mkm cut their target price on Polaris from $92.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. DA Davidson upgraded Polaris from a "neutral" rating to a "buy" rating and set a $87.00 price target for the company in a research report on Thursday, July 25th. Finally, Royal Bank of Canada cut their price objective on Polaris from $82.00 to $73.00 and set a "sector perform" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $87.36.

Institutional Investors Weigh In On Polaris

Several large investors have recently bought and sold shares of PII. Ballentine Partners LLC grew its position in shares of Polaris by 22.3% during the third quarter. Ballentine Partners LLC now owns 3,664 shares of the company's stock worth $305,000 after buying an additional 668 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Polaris in the third quarter worth approximately $279,000. International Assets Investment Management LLC grew its holdings in Polaris by 1,309.5% during the 3rd quarter. International Assets Investment Management LLC now owns 14,151 shares of the company's stock worth $1,178,000 after acquiring an additional 13,147 shares in the last quarter. Calton & Associates Inc. purchased a new stake in shares of Polaris in the 3rd quarter valued at approximately $366,000. Finally, Blue Trust Inc. raised its holdings in shares of Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company's stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

Polaris Trading Down 3.5 %

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 1.42. The company's 50-day moving average price is $82.04 and its 200-day moving average price is $82.04. The firm has a market capitalization of $3.94 billion, a PE ratio of 10.22, a PEG ratio of 7.59 and a beta of 1.51.

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.