Wedbush Analysts Decrease Earnings Estimates for Polaris Industries Inc. (PII)
Polaris Industries Inc. (NYSE:PII) – Analysts at Wedbush dropped their FY2018 earnings per share (EPS) estimates for shares of Polaris Industries in a research note issued to investors on Monday, October 15th. Wedbush analyst J. Hardiman now forecasts that the company will post earnings per share of $6.54 for the year, down from their previous forecast of $6.66. Wedbush currently has a “Neutral” rating and a $98.00 price target on the stock.
Polaris Industries (NYSE:PII) last issued its earnings results on Wednesday, July 25th. The company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.14. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Polaris Industries had a net margin of 4.58% and a return on equity of 40.51%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share.
Shares of NYSE:PII opened at $94.64 on Wednesday. The company has a market capitalization of $6.28 billion, a P/E ratio of 19.51, a PEG ratio of 1.03 and a beta of 0.92. Polaris Industries has a fifty-two week low of $92.18 and a fifty-two week high of $137.66. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.44 and a current ratio of 1.27.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BancorpSouth Bank grew its position in shares of Polaris Industries by 11.8% during the second quarter. BancorpSouth Bank now owns 4,515 shares of the company’s stock worth $552,000 after acquiring an additional 477 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Polaris Industries by 3.2% during the second quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company’s stock worth $1,943,000 after acquiring an additional 500 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Polaris Industries by 8.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,221 shares of the company’s stock worth $760,000 after acquiring an additional 505 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Polaris Industries by 28.7% during the second quarter. Janney Montgomery Scott LLC now owns 2,877 shares of the company’s stock worth $352,000 after acquiring an additional 641 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Polaris Industries by 0.5% during the second quarter. Rhumbline Advisers now owns 121,335 shares of the company’s stock worth $14,825,000 after acquiring an additional 656 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.
In other Polaris Industries news, CEO Scott W. Wine bought 3,000 shares of the stock in a transaction dated Friday, July 27th. The shares were acquired at an average cost of $104.09 per share, for a total transaction of $312,270.00. Following the completion of the transaction, the chief executive officer now owns 335,154 shares in the company, valued at approximately $34,886,179.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George W. Bilicic bought 1,195 shares of the stock in a transaction dated Friday, July 27th. The shares were acquired at an average price of $104.61 per share, for a total transaction of $125,008.95. Following the completion of the transaction, the director now owns 6,239 shares of the company’s stock, valued at approximately $652,661.79. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were paid a $0.60 dividend. The ex-dividend date was Thursday, August 30th. This represents a $2.40 annualized dividend and a yield of 2.54%. Polaris Industries’s dividend payout ratio is currently 49.48%.
About Polaris Industries
Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. The company operates through four segments: Off-Road Vehicles (ORVs)/Snowmobiles, Motorcycles, Global Adjacent Markets, and Aftermarket. It offers ORVs, including all-terrain vehicles and side-by-side vehicles for recreational and utility use; snowmobiles; motorcycles; and low emission, light duty hauling, passenger, commercial, and industrial vehicles, as well as snow bike conversion kit systems.
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