Plus   Neg

Stock Alert: Polaris Hits New 52-week High On Upbeat Q4 Results, Outlook

Shares of Polaris Inc. (PII), a manufacturer of power sports vehicles including off-road vehicles, are climbing almost 5 percent or $5.94 in Tuesday's morning trade at $125.44. The company's shares hit a new 52-week high of $127.92 as its fourth-quarter results beat analysts' expectations and it provided financial outlook for fiscal 2021 above estimates.

Tuesday, Polaris reported fourth-quarter net income of $198.8 million or $3.15 per share, up sharply from $99.0 million or $1.58 per share in the year-ago period. Adjusted earnings were $3.34 per share, compared to $1.83 per share in the year-ago quarter. Sales for the quarter grew 24 to $ 2.16 billion from $1.74 billion last year.
On average, analysts polled by Thomson Reuters had a consensus estimate for earnings of $2.90 per share for the quarter on revenues of $2.11 billion.

For fiscal 2021, Polaris now projects adjusted earnings in a range of $8.45 to $8.75 per share on sales between $7.95 billion and $8.15 billion. The Street expects the company to report earnings of $7.80 per share on revenues of $7.40 billion for the year.

Polaris has traded in a range of $37.35 to $127.92 in the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Get Access to Premium Stock Alerts with RTT Intelligent Investor.
Editors Pick
J&J Distributing has recalled various food products citing potential contamination with Listeria monocytogenes or Lm, an organism that can cause serious and sometimes fatal infections. According to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS, around 33 pounds of ready-to-eat meat and poultry salads and wrap products have been called back. The U.S. Food and Drug Administration on Saturday authorized Johnson & Johnson's (JNJ) single-dose COVID-19 vaccine for emergency use. It is the first single-shot COVID-19 vaccine and the third COVID-19 vaccine for emergency use in the U.S. - the other two being Pfizer/BioNTech's BNT162b2 and Moderna's mRNA-1273. The U.S. Food and Drug Administration said that it will rapidly work toward finalization and issuance of an emergency use authorization of Johnson & Johnson's (JNJ) single-shot COVID-19 vaccine candidate.
Follow RTT