Polaris Inc. (NYSE:PII – Get Free Report) 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.
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.
Read Our Latest Analysis on PII
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.
Recommended Stories
- Five stocks we like better than Polaris
- What is a Dividend King?
- Autodesk Stock: Analysts’ Top AI Pick You Shouldn’t Overlook
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Hidden Opportunities in Li Auto’s Tough Quarter You Can’t Miss
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
Receive News & Ratings for Polaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polaris and related companies with MarketBeat.com's FREE daily email newsletter.