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. Shareholders 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 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date is Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66.

Polaris has raised its dividend payment by an average of 1.6% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Polaris has a payout ratio of 54.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Polaris to earn $4.50 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 58.7%.

Polaris Stock Down 2.8 %

NYSE PII opened at $47.68 on Friday. The stock has a 50 day moving average price of $59.03 and a 200-day moving average price of $71.91. Polaris has a one year low of $47.53 and a one year high of $100.91. The company has a market capitalization of $2.66 billion, a P/E ratio of 24.33, a P/E/G ratio of 14.41 and a beta of 1.53. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.32 and a current ratio of 1.15.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (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%. As a group, equities analysts predict that Polaris will post 1.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 price objective (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. DA Davidson decreased their price target on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial dropped their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Polaris from $65.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, Citigroup reduced their price target on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.82.

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.