Polaris Inc. (NYSE:PII) Announces Dividend Increase – $0.67 Per Share

Polaris Inc. (NYSE:PII) declared 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 5.48%. This is a positive change from Polaris’s previous quarterly dividend of $0.66.

Polaris has increased its dividend by an average of 1.6% annually over the last three years and has increased its dividend every year for the last 13 years. Polaris has a payout ratio of 54.4% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.3 %

NYSE PII opened at $48.95 on Friday. Polaris has a 52 week low of $48.44 and a 52 week high of $100.91. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.32 and a current ratio of 1.15. The stock’s 50 day moving average price is $59.44 and its two-hundred day moving average price is $72.14. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 14.41 and a beta of 1.53.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Polaris will post 1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup decreased their price objective on Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley restated an “equal weight” rating and issued a $60.00 price target (down from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Royal Bank of Canada lowered their price target on Polaris from $65.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Truist Financial cut their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday. Finally, BMO Capital Markets decreased their target price on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Polaris has an average rating of “Hold” and a consensus 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.