Polaris Inc. (NYSE:PII – Get Free Report) 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.
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.
View Our Latest Stock Analysis on PII
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.
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