Polaris Inc. (NYSE:PII) Declares Quarterly Dividend of $0.66

Polaris Inc. (NYSE:PII - Get Free Report) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.66 per share on Monday, December 16th. This represents a $2.64 annualized dividend and a yield of 3.73%.

Polaris has raised its dividend payment 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 dividend payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

PII stock traded up $1.07 during midday trading on Thursday, hitting $70.75. The stock had a trading volume of 829,027 shares, compared to its average volume of 731,817. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 7.48 and a beta of 1.51. The company has a current ratio of 1.21, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a 50-day simple moving average of $82.04 and a 200 day simple moving average of $82.04. Polaris has a 52 week low of $68.59 and a 52 week high of $100.91.

Polaris (NYSE:PII - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share 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 firm's revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, equities research analysts anticipate that Polaris will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PII. StockNews.com lowered Polaris from a "hold" rating to a "sell" rating in a research note on Wednesday. Longbow Research reaffirmed a "neutral" rating on shares of Polaris in a research note on Wednesday, July 24th. Roth Mkm decreased their price target on shares of Polaris from $92.00 to $79.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on shares of Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a research report on Wednesday. Finally, KeyCorp decreased their price objective on Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $87.09.

Polaris Company Profile

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.

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