Polaris Analysts Boost Their Forecasts After Better-Than-Expected Q2 Earnings
Polaris Inc reported better-than-expected Q2 earnings, with adjusted earnings of 40 cents per share, surpassing estimates of a loss. Quarterly sales reached $1.852 billion, exceeding expectations of $1.720 billion. The company forecasts Q3 sales between $1.600 billion and $1.800 billion. Following the earnings report, Polaris shares rose 7.8% to $53.32. Analysts have adjusted their price targets, with Baird raising it to $55, RBC Capital to $56, and MO Capital to $52, while maintaining their ratings.
Polaris Inc PII reported better-than-expected second-quarter financial results on Tuesday.
Polaris posted adjusted earnings of 40 cents per share, compared to market estimates of a loss of 4 cents per share. The company's quarterly sales came in at $1.852 billion beating expectations of $1.720 billion.
Polaris said it sees third-quarter sales of $1.600 billion to $1.800 billion, versus estimates of $1.671 billion.
Polaris shares gained 7.8% to trade at $53.32 on Wednesday.
These analysts made changes to their price targets on Polaris following earnings announcement.
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- Baird analyst Craig Kennison maintained Polaris with a Neutral and raised the price target from $46 to $55.
- RBC Capital analyst Sabahat Khan maintained the stock with a Sector Perform and raised the price target from $34 to $56.
- MO Capital analyst Tristan Thomas-Martin maintained Polaris with a Market Perform and raised the price target from $33 to $52.
Considering buying PII stock? Here’s what analysts think:
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