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

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

Polaris has raised its dividend 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 payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. 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 Performance

Polaris stock opened at $83.81 on Friday. The firm’s 50 day simple moving average is $92.56 and its 200 day simple moving average is $91.51. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $4.74 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49.

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

Wall Street Analysts Forecast Growth

PII has been the topic of a number of research analyst reports. BMO Capital Markets decreased their price target on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. Bank of America initiated coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price target on the stock. Citigroup decreased their price target on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Finally, Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris presently has an average rating of “Hold” and an average target price 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.