Polaris Inc. (NYSE:PII) Shares Set to Pay Quarterly Dividend of $0.68

Key Points

• Polaris will pay a quarterly dividend of $0.68 per share on December 15 to shareholders of record as of December 1, representing an annualized dividend of $2.72 and a 4.5% yield.
• The current dividend payout ratio is an unusually high 1,088%, meaning earnings do not presently cover the dividend; analysts expect improved coverage next year, with a projected payout ratio of 74.1%.
• Polaris reported quarterly EPS of $1.08, beating estimates of $0.59, while revenue rose 10.9% year over year to $2.04 billion. Shares opened at $60.25, and institutional investors own 88.06% of the stock.

Polaris Inc. (NYSE:PII - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, December 1st will be given a dividend of $0.68 per share on Tuesday, December 15th. This represents a $2.72 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, December 1st.

Polaris has a dividend payout ratio of 1,088.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Polaris to earn $3.67 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 74.1%.

Polaris Price Performance

Shares of NYSE PII opened at $60.25 on Friday. Polaris has a fifty-two week low of $47.14 and a fifty-two week high of $77.98. The company has a 50 day simple moving average of $56.65 and a two-hundred day simple moving average of $62.66. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -16.33 and a beta of 1.32. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.47 and a current ratio of 1.06.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.49. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.90 billion. Polaris had a positive return on equity of 23.19% and a negative net margin of 2.70%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.28) earnings per share. Analysts expect that Polaris will post 3.44 EPS for the current fiscal year.

Institutional Trading of Polaris

Several hedge funds have recently modified their holdings of PII. Alyeska Investment Group L.P. acquired a new stake in shares of Polaris in the second quarter valued at approximately $7,576,000. Allianz Asset Management GmbH grew its stake in shares of Polaris by 272.7% in the second quarter. Allianz Asset Management GmbH now owns 386,300 shares of the company's stock valued at $26,438,000 after buying an additional 282,651 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Polaris during the second quarter valued at approximately $5,222,000. Bank of America Corp DE purchased a new position in shares of Polaris in the second quarter valued at $17,374,000. Finally, Renaissance Technologies LLC grew its holdings in Polaris by 87.1% during the 1st quarter. Renaissance Technologies LLC now owns 225,800 shares of the company's stock valued at $12,306,000 after purchasing an additional 105,100 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Polaris Company Profile

Polaris Inc is a manufacturer of powersports products headquartered in Medina, Minnesota. Founded in 1954, the company began as a snowmobile manufacturer and has expanded into a diversified portfolio of off-road vehicles, motorcycles, snowmobiles and boats.

Its off-road vehicle lineup includes utility and recreational models sold under brands such as RANGER, RZR, Sportsman and GENERAL. Polaris also manufactures snowmobiles under the Polaris brand and motorcycles through Indian Motorcycle and Slingshot.

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