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

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 increased its dividend payment by an average of 1.6% per year over the last three years and has increased 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. 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 Trading Up 0.6 %

Polaris stock traded up $0.53 during midday trading on Friday, reaching $83.81. The stock had a trading volume of 646,804 shares, 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. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. The company has a fifty day moving average of $92.56 and a 200 day moving average of $91.51.

Polaris (NYSE:PII) last posted its quarterly earnings data 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. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $2.05 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, analysts anticipate that Polaris will post 7.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PII has been the topic of a number of research reports. Royal Bank of Canada reduced their target price on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Morgan Stanley upgraded shares of Polaris from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $113.00 in a research note on Wednesday, January 17th. StockNews.com upgraded shares of Polaris from a “hold” rating to a “buy” rating in a research note on Wednesday. Truist Financial dropped their price objective on shares of Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, DA Davidson reiterated a “neutral” rating and set a $80.00 price objective on shares of Polaris in a research note on Tuesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Polaris has an average rating of “Hold” and a consensus 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.