Polaris Industries Inc. (PII) Announces Quarterly Earnings Results
Polaris Industries Inc. (NYSE:PII) issued its earnings results on Thursday. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08, Bloomberg Earnings reports. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. Polaris Industries had a return on equity of 25.64% and a net margin of 3.48%. Polaris Industries’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Polaris Industries updated its FY17 guidance to $4.35-4.50 EPS.
Polaris Industries (NYSE:PII) traded up 4.516% during trading on Thursday, reaching $96.625. The company’s stock had a trading volume of 921,032 shares. The firm’s 50-day moving average price is $88.77 and its 200 day moving average price is $86.32. The company has a market capitalization of $6.09 billion, a P/E ratio of 38.343 and a beta of 1.32. Polaris Industries has a 12-month low of $70.14 and a 12-month high of $99.16. Polaris Industries also was the target of some unusual options trading on Wednesday. Stock investors acquired 9,865 put options on the company. This is an increase of 646% compared to the typical volume of 1,322 put options.
PII has been the subject of several research reports. BidaskClub raised Polaris Industries from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $79.00 target price on shares of Polaris Industries in a research note on Friday, June 9th. Zacks Investment Research raised Polaris Industries from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 15th. Northcoast Research reaffirmed a “hold” rating on shares of Polaris Industries in a research note on Monday, March 27th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Polaris Industries in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $84.67.
In other Polaris Industries news, EVP Michael T. Speetzen sold 5,000 shares of Polaris Industries stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $84.07, for a total transaction of $420,350.00. Following the completion of the sale, the executive vice president now directly owns 10,333 shares of the company’s stock, valued at approximately $868,695.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew J. Homan sold 2,600 shares of Polaris Industries stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $86.96, for a total value of $226,096.00. Following the sale, the insider now directly owns 20,871 shares of the company’s stock, valued at $1,814,942.16. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Polaris Industries by 35.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 285,885 shares of the company’s stock worth $23,553,000 after buying an additional 74,829 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Polaris Industries by 9.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,240 shares of the company’s stock worth $844,000 after buying an additional 910 shares during the period. Norges Bank purchased a new stake in shares of Polaris Industries during the fourth quarter worth $46,023,000. Quadrature Capital Ltd purchased a new stake in shares of Polaris Industries during the fourth quarter worth $807,000. Finally, Teachers Advisors LLC raised its stake in shares of Polaris Industries by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 54,028 shares of the company’s stock worth $4,451,000 after buying an additional 3,095 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.
About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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