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

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.66 per share on Monday, December 16th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.73%.

Polaris has increased its dividend payment by an average of 1.6% annually over the last three years and has increased its dividend annually for the last 29 consecutive years. Polaris has a dividend payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Polaris to earn $5.91 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 44.7%.

Polaris Trading Up 1.6 %

Shares of PII opened at $70.78 on Friday. The business’s 50-day moving average price is $81.81 and its 200 day moving average price is $81.96. The stock has a market capitalization of $3.95 billion, a P/E ratio of 19.77, a P/E/G ratio of 7.48 and a beta of 1.51. The company has a current ratio of 1.21, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. Polaris has a 1-year low of $68.59 and a 1-year high of $100.91.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $2.71 EPS. Polaris’s revenue for the quarter was down 23.4% on a year-over-year basis. Analysts expect that Polaris will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. DA Davidson dropped their target price on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada reduced their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday. KeyCorp lowered their price objective on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday. Longbow Research restated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.09.

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.