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Stock Alert: Polaris Shares Hit 52-Week High

Shares of Polaris Inc. (PII) hit a 52-week high of $107.99 Tuesday morning, after the company reported a better-than-expected Q2 results and re-initiated its fiscal 2020 guidance. The stock has been trading in the range of $37.35 - $107.99 for the past one year, and is currently trading at $107.07, up $9.10 or 9.29% Tuesday morning.

Second-quarter net loss was $235.4 million or $3.82 per share compared to a profit of $88.2 million or $1.42 per share last year.

Adjusted earnings per share was $1.30 compared to $1.73, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings per share of $0.63, for the quarter. Analysts' estimates typically exclude special items.

Second quarter sales were $1.51 billion, down 15% from reported sales of $1.78 billion, previous year. Analysts expected revenue of $1.37 billion for the quarter.

The company re-initiated its sales and adjusted earnings guidance for full year 2020. Adjusted net income per share is projected to be in the range of $6.40 - $6.60. Sales are now expected to be in the range of $6.650 billion - $6.750 billion. Wall Street analysts estimate earnings of $3.88 per share on revenue of $6.1 billion for fiscal 2020.

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