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

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, July 25th, Wall Street Journal reports. Stockholders of record on Tuesday, September 3rd will be given a dividend of 0.66 per share on Monday, September 16th. This represents a $2.64 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Polaris has increased 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 payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Polaris to earn $7.17 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 36.8%.

Polaris Price Performance

PII stock opened at $82.71 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.42. Polaris has a 1 year low of $71.90 and a 1 year high of $138.49. The firm has a 50-day moving average of $79.36 and a 200 day moving average of $86.86. The company has a market cap of $4.67 billion, a P/E ratio of 12.13, a PEG ratio of 7.00 and a beta of 1.53.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. On average, sell-side analysts forecast that Polaris will post 3.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Thursday. Royal Bank of Canada lowered their price target on shares of Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday. Roth Mkm cut their price objective on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Polaris from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Robert W. Baird cut their price target on Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Polaris has an average rating of “Hold” and a consensus target price of $89.18.

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.