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

Polaris Inc. (NYSE:PII) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders 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 yield of 3.73%.

Polaris has raised its dividend payment by an average of 1.6% per year over the last three years and has raised its dividend annually for the last 29 consecutive years. Polaris has a payout ratio of 45.9% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.6 %

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

Polaris (NYSE:PII) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $2.71 EPS. Polaris’s revenue for the quarter was down 23.4% compared to the same quarter last year. As a group, equities analysts forecast that Polaris will post 3.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PII has been the topic of a number of research analyst reports. KeyCorp decreased their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Robert W. Baird lowered their price objective on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday. Longbow Research restated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Finally, Truist Financial cut their price objective on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.