Polaris Inc. (NYSE:PII) Increases Dividend to $0.67 Per Share

Polaris Inc. (NYSE:PII) announced a quarterly dividend on Thursday, January 30th, RTT News reports. Stockholders of record on Monday, March 3rd will be given a dividend of 0.67 per share on Monday, March 17th. This represents a $2.68 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Monday, March 3rd. This is a boost from Polaris’s previous quarterly dividend of $0.66.

Polaris has increased its dividend by an average of 1.6% per year over the last three years and has raised its dividend every year for the last 30 years. Polaris has a dividend payout ratio of 92.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Polaris to earn $2.86 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 93.7%.

Polaris Stock Up 0.1 %

PII stock opened at $44.88 on Friday. The company’s 50 day simple moving average is $51.57 and its 200-day simple moving average is $67.21. The firm has a market capitalization of $2.52 billion, a PE ratio of 22.90, a P/E/G ratio of 13.95 and a beta of 1.50. Polaris has a 12 month low of $42.85 and a 12 month high of $100.91. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. Equities analysts expect that Polaris will post 1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Roth Mkm decreased their target price on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Truist Financial decreased their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 price target (down previously from $81.00) on shares of Polaris in a report on Tuesday, January 21st. BMO Capital Markets decreased their price target on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. Finally, Robert W. Baird decreased their price target on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Polaris currently has an average rating of “Hold” and a consensus target price of $66.17.

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.