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Polaris Inc (PII) Stock Jumps 3.6%: Will It Continue to Soar?
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Polaris Inc (PII - Free Report) shares ended the last trading session 3.6% higher at $110.26. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.7% loss over the past four weeks.
Polaris’ shares gained in the last trading session as the rising COVID-19 infections are yet again increasing the demand for off-road vehicles. Thanks to growing preference of the youth toward adventure and off-road events as well as rising recreational spending, Polaris looks poised for a solid 2022. Recently, Polaris reaffirmed its 2022 sales guidance in the band of $9.2-$9.5 billion, indicating 12-15% year-over-year growth. Adjusted earnings are also envisioned to witness a year-over-year uptick of 11-14% in 2022.
This snowmobile and ATV maker is expected to post quarterly earnings of $1.80 per share in its upcoming report, which represents a year-over-year change of -21.7%. Revenues are expected to be $2.12 billion, up 8.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Polaris Inc, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PII going forward to see if this recent jump can turn into more strength down the road.
Polaris Inc is part of the Zacks Automotive - Domestic industry. Harley-Davidson (HOG - Free Report) , another stock in the same industry, closed the last trading session 3.2% higher at $40.35. HOG has returned -6.5% in the past month.
For Harley-Davidson, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.51. This represents a change of -10.1% from what the company reported a year ago. Harley-Davidson currently has a Zacks Rank of #1 (Strong Buy).
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Polaris Inc (PII) Stock Jumps 3.6%: Will It Continue to Soar?
Polaris Inc (PII - Free Report) shares ended the last trading session 3.6% higher at $110.26. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.7% loss over the past four weeks.
Polaris’ shares gained in the last trading session as the rising COVID-19 infections are yet again increasing the demand for off-road vehicles. Thanks to growing preference of the youth toward adventure and off-road events as well as rising recreational spending, Polaris looks poised for a solid 2022. Recently, Polaris reaffirmed its 2022 sales guidance in the band of $9.2-$9.5 billion, indicating 12-15% year-over-year growth. Adjusted earnings are also envisioned to witness a year-over-year uptick of 11-14% in 2022.
This snowmobile and ATV maker is expected to post quarterly earnings of $1.80 per share in its upcoming report, which represents a year-over-year change of -21.7%. Revenues are expected to be $2.12 billion, up 8.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Polaris Inc, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PII going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Polaris Inc is part of the Zacks Automotive - Domestic industry. Harley-Davidson (HOG - Free Report) , another stock in the same industry, closed the last trading session 3.2% higher at $40.35. HOG has returned -6.5% in the past month.
For Harley-Davidson, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.51. This represents a change of -10.1% from what the company reported a year ago. Harley-Davidson currently has a Zacks Rank of #1 (Strong Buy).