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Polaris Inc. reported a quarterly EPS of ($0.90), surpassing estimates of ($0.91), with revenue of $1.54 billion, slightly above expectations. The company declared a quarterly dividend of $0.67 per share, yielding 6.83%, while analysts anticipate an EPS of 1.11 for the current year. Despite a 11.6% revenue decline year-over-year, Polaris maintains a return on equity of 13.78%.
Polaris Inc. reported quarterly revenue of $1.54 billion, slightly surpassing analysts' expectations, but down 11.6% year-over-year. The company announced a quarterly dividend of $0.67, reflecting a positive change from the previous dividend, with a yield of 7.91%. Analysts maintain a "Hold" rating on the stock, with a consensus target price of $50.64.
Polaris Inc, which designs and manufactures powersports vehicles, has 88.06% of its stock owned by hedge funds and institutional investors. Recently, Citigroup downgraded the stock from "neutral" to "sell," lowering its price target to $33, indicating a potential downside of 22.46%. Analysts currently rate Polaris as a "Hold," with an average price target of $59.83, while the stock has fluctuated between a one-year low of $39.79 and a high of $100.91.
Citigroup plans to reduce its reliance on external IT contractors from 50% to 20%, focusing on building in-house capabilities. This strategic shift raises concerns for Indian IT firms like TCS, Wipro, and LTIMindtree, which have significant business ties with Citi. Experts suggest that while this may impact larger IT service providers, it could ultimately benefit India's core banking operations and expertise in the long run.
UBS has lowered its price target on Polaris Inc. to $48 from $67 while maintaining a neutral rating. Polaris specializes in the design, engineering, manufacturing, and marketing of powersports vehicles, operating through three segments: Off Road, On Road, and Marine, with a diverse product lineup including side-by-side vehicles, motorcycles, and boats.
Polaris Inc.
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