Polaris Inc. to Issue Quarterly Dividend of $0.64 (NYSE:PII)

Polaris Inc. (NYSE:PIIGet Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Shareholders of record on Wednesday, June 1st will be paid a dividend of 0.64 per share on Wednesday, June 15th. This represents a $2.56 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, May 31st.

Polaris has increased its dividend payment by an average of 1.6% per year over the last three years and has increased its dividend every year for the last 28 years. Polaris has a dividend payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Polaris to earn $11.02 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 23.2%.

Shares of NYSE PII opened at $94.94 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.41 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.65 billion, a price-to-earnings ratio of 13.76 and a beta of 1.63. Polaris has a 12 month low of $94.56 and a 12 month high of $145.79. The stock has a 50-day moving average price of $108.67 and a two-hundred day moving average price of $113.79.

Polaris (NYSE:PIIGet Rating) last issued its earnings results on Tuesday, April 26th. The company reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.48). The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.11 billion. Polaris had a return on equity of 43.24% and a net margin of 5.24%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 EPS. On average, sell-side analysts predict that Polaris will post 10.2 earnings per share for the current year.

Several research firms have recently issued reports on PII. StockNews.com initiated coverage on shares of Polaris in a research note on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird reduced their price objective on shares of Polaris from $150.00 to $135.00 in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of Polaris from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 26th. Royal Bank of Canada reduced their price objective on shares of Polaris from $132.00 to $117.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 26th. Finally, BMO Capital Markets dropped their target price on shares of Polaris from $165.00 to $138.00 in a report on Wednesday. Three research analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $130.08.

In other news, SVP Dougherty Lucy Clark sold 4,257 shares of the company’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $125.00, for a total transaction of $532,125.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in Polaris by 0.6% in the 4th quarter. BlackRock Inc. now owns 4,790,490 shares of the company’s stock worth $526,522,000 after purchasing an additional 30,039 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in Polaris in the 4th quarter worth about $3,632,000. NewEdge Advisors LLC grew its position in Polaris by 2.8% in the 4th quarter. NewEdge Advisors LLC now owns 5,380 shares of the company’s stock worth $591,000 after purchasing an additional 146 shares in the last quarter. Zullo Investment Group Inc. bought a new stake in Polaris in the 4th quarter worth about $64,000. Finally, Neo Ivy Capital Management bought a new stake in Polaris in the 4th quarter worth about $29,000. 85.77% of the stock is owned by institutional investors and hedge funds.

About Polaris (Get Rating)

Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates through six segments: ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.

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Dividend History for Polaris (NYSE:PII)

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