Pinnacle Renewable Holdings Inc (TSE:PL) traded down 2.1% during mid-day trading on Wednesday . The company traded as low as C$8.96 and last traded at C$9.05, 15,183 shares were traded during trading. A decline of 68% from the average session volume of 47,035 shares. The stock had previously closed at C$9.24.
Several brokerages recently weighed in on PL. National Bank Financial lowered their price objective on Pinnacle Renewable from C$15.50 to C$14.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. GMP Securities boosted their price objective on Pinnacle Renewable from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, August 15th. CIBC lowered their price objective on Pinnacle Renewable from C$11.00 to C$10.00 in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada set a C$13.00 price objective on Pinnacle Renewable and gave the company an “outperform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of C$13.00.
The company has a quick ratio of 0.59, a current ratio of 1.41 and a debt-to-equity ratio of 158.87. The company has a 50-day moving average price of C$8.01 and a 200-day moving average price of C$9.26. The firm has a market capitalization of $307.78 million and a price-to-earnings ratio of 151.19.
Pinnacle Renewable (TSE:PL) last released its earnings results on Tuesday, November 12th. The company reported C($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.06) by C$0.03. The firm had revenue of C$92.55 million during the quarter, compared to analyst estimates of C$99.90 million. As a group, analysts forecast that Pinnacle Renewable Holdings Inc will post 0.4090085 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.15 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.60 dividend on an annualized basis and a yield of 6.73%. Pinnacle Renewable’s dividend payout ratio (DPR) is 762.71%.
About Pinnacle Renewable (TSE:PL)
Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by utilities and large-scale power generators to produce renewable and baseload power.
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