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

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Investors of record on Tuesday, September 3rd will be paid a dividend of 0.66 per share on Monday, September 16th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Polaris has raised its dividend 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 dividend payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Polaris to earn $5.94 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 44.4%.

Polaris Stock Performance

Shares of PII opened at $84.65 on Monday. The company’s 50 day simple moving average is $80.43 and its 200-day simple moving average is $85.27. The firm has a market cap of $4.78 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 7.52 and a beta of 1.53. Polaris has a 12-month low of $71.90 and a 12-month high of $114.24. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the business posted $2.42 earnings per share. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, equities analysts predict that Polaris will post 3.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PII. Roth Mkm decreased their price objective on Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Longbow Research reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. DA Davidson raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Thursday, July 25th. Finally, KeyCorp cut their price target on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. One research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.18.

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.