Polaris Inc. (NYSE:PII) Declares Quarterly Dividend of $0.68

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.68 per share on Tuesday, December 15th. This represents a $2.72 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, December 1st.

Polaris has a dividend payout ratio of 1,088.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Polaris to earn $3.67 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 74.1%.

Polaris Stock Up 2.7%

Shares of Polaris stock opened at $60.25 on Friday. The firm’s 50-day moving average is $56.65 and its two-hundred day moving average is $62.66. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.06 and a quick ratio of 0.47. Polaris has a 1 year low of $47.14 and a 1 year high of $77.98. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -16.33 and a beta of 1.32.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 27th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.49. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Polaris had a negative net margin of 2.70% and a positive return on equity of 23.19%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.28) EPS. As a group, research analysts expect that Polaris will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Polaris

A number of hedge funds and other institutional investors have recently bought and sold shares of PII. Elevation Wealth Partners LLC increased its position in shares of Polaris by 471.0% during the second quarter. Elevation Wealth Partners LLC now owns 571 shares of the company’s stock valued at $39,000 after buying an additional 471 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Polaris by 128.1% during the 2nd quarter. Versant Capital Management Inc now owns 949 shares of the company’s stock valued at $65,000 after purchasing an additional 533 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Polaris in the 1st quarter worth about $96,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Polaris in the second quarter valued at approximately $123,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Polaris by 841.1% during the 3rd quarter. Sterling Capital Management LLC now owns 1,807 shares of the company’s stock valued at $94,000 after purchasing an additional 1,615 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

About Polaris

Polaris Inc is a manufacturer of powersports products headquartered in Medina, Minnesota. Founded in 1954, the company began as a snowmobile manufacturer and has expanded into a diversified portfolio of off-road vehicles, motorcycles, snowmobiles and boats.

Its off-road vehicle lineup includes utility and recreational models sold under brands such as RANGER, RZR, Sportsman and GENERAL. Polaris also manufactures snowmobiles under the Polaris brand and motorcycles through Indian Motorcycle and Slingshot.