Polaris Industries Inc. (NYSE:PII) Increases Dividend to $0.62 Per Share

Polaris Industries Inc. (NYSE:PII) declared a quarterly dividend on Monday, February 3rd, Wall Street Journal reports. Shareholders of record on Monday, March 2nd will be given a dividend of 0.62 per share on Monday, March 16th. This represents a $2.48 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Polaris Industries’s previous quarterly dividend of $0.61.

Polaris Industries has increased its dividend payment by an average of 2.3% per year over the last three years and has increased its dividend every year for the last 8 years. Polaris Industries has a payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Polaris Industries to earn $7.55 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 32.8%.

NYSE:PII opened at $83.30 on Thursday. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. The company has a fifty day simple moving average of $92.48 and a two-hundred day simple moving average of $92.87. Polaris Industries has a 52 week low of $77.05 and a 52 week high of $104.37. The company has a quick ratio of 0.33, a current ratio of 1.06 and a debt-to-equity ratio of 1.45.

Polaris Industries (NYSE:PII) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Polaris Industries had a net margin of 4.78% and a return on equity of 39.84%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 EPS. On average, analysts expect that Polaris Industries will post 6.96 EPS for the current year.

Several research firms have recently issued reports on PII. Stifel Nicolaus lifted their price objective on shares of Polaris Industries from $100.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. ValuEngine raised shares of Polaris Industries from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Wedbush cut shares of Polaris Industries from an “outperform” rating to a “neutral” rating in a research report on Friday, January 17th. Zacks Investment Research raised shares of Polaris Industries from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Saturday, February 1st. Finally, Raymond James lifted their price objective on shares of Polaris Industries from $117.00 to $118.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $109.23.

In other news, insider Stephen L. Eastman sold 7,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $99.08, for a total value of $743,100.00. Following the completion of the sale, the insider now directly owns 20,678 shares of the company’s stock, valued at $2,048,776.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Annette K. Clayton sold 38,590 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $94.50, for a total transaction of $3,646,755.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Polaris Industries Company Profile

Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five 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 bike conversion kit systems; motorcycles; low emission, light duty hauling, passenger, and industrial vehicles; and boats.

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Dividend History for Polaris Industries (NYSE:PII)

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