Polaris Inc. Announces Quarterly Dividend of $0.66 (NYSE:PII)

Polaris Inc. (NYSE:PII) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.66 per share on Monday, June 17th. This represents a $2.64 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, June 3rd.

Polaris has raised its dividend payment by an average of 1.6% annually over the last three years and has increased its dividend every year for the last 29 years. Polaris has a dividend payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Polaris to earn $9.10 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 29.0%.

Polaris Stock Up 0.6 %

Shares of NYSE:PII traded up $0.53 during mid-day trading on Friday, hitting $83.81. 646,804 shares of the company traded hands, compared to its average volume of 743,728. The firm has a market cap of $4.74 billion, a P/E ratio of 12.29, a PEG ratio of 2.44 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The firm’s 50 day simple moving average is $92.56 and its 200 day simple moving average is $91.51.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, equities analysts anticipate that Polaris will post 7.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PII shares. Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Monday, April 8th. Royal Bank of Canada reduced their price objective on Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a research note on Wednesday. Citigroup reduced their price objective on Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial dropped their target price on Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Bank of America assumed coverage on Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $100.27.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.