Polaris Inc. (PII) to Distribute Quarterly Dividend of $0.66 on December 16th

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Investors of record on Monday, December 2nd will be given a dividend of 0.66 per share on Monday, December 16th. This represents a $2.64 dividend on an annualized basis and a yield of 3.71%.

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 payout ratio of 62.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Polaris to earn $5.91 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 44.7%.

Polaris Trading Up 0.7 %

NYSE:PII opened at $71.23 on Friday. The company has a quick ratio of 0.40, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Polaris has a 52 week low of $68.59 and a 52 week high of $100.91. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 7.48 and a beta of 1.51. The firm has a 50 day moving average of $81.58 and a 200 day moving average of $81.78.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The company’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 EPS. As a group, sell-side analysts anticipate that Polaris will post 3.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

PII has been the topic of several recent analyst reports. Citigroup decreased their price objective on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. DA Davidson decreased their price target on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday. KeyCorp decreased their price target on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial decreased their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Finally, Robert W. Baird reduced their target price on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.09.

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.