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

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, June 3rd.

Polaris has raised its dividend by an average of 1.6% annually over the last three years and has raised its dividend annually for the last 29 consecutive years. Polaris has a dividend payout ratio of 28.5% indicating that 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 Price Performance

NYSE:PII traded up $0.53 on Friday, reaching $83.81. 646,804 shares of the company’s stock traded hands, compared to its average volume of 743,728. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The stock has a 50-day simple moving average of $92.56 and a 200-day simple moving average of $91.51. The firm has a market cap of $4.74 billion, a PE ratio of 12.29, a P/E/G ratio of 2.44 and a beta of 1.60. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the firm earned $2.05 earnings per share. Equities research analysts forecast that Polaris will post 7.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PII shares. Truist Financial cut their price objective on Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday. DA Davidson restated a “neutral” rating and set a $80.00 price objective on shares of Polaris in a research report on Tuesday, March 5th. KeyCorp cut their price objective on Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, January 12th. Morgan Stanley upgraded Polaris from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $103.00 to $113.00 in a research report on Wednesday, January 17th. Finally, Bank of America started coverage on Polaris in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.27.

About Polaris

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.