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

(RTTNews) - 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.