Raymond James Cuts Polaris Renewable Energy (TSE:PIF) Price Target to C$19.00

Polaris Renewable Energy (TSE:PIF) had its price target lowered by Raymond James from C$21.50 to C$19.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. The firm currently has a strong-buy rating on the stock. Raymond James also issued estimates for Polaris Renewable Energy’s Q2 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.19 EPS, FY2024 earnings at $0.56 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at $0.64 EPS.

Polaris Renewable Energy Stock Performance

PIF stock opened at C$11.50 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.64 and a debt-to-equity ratio of 64.88. The firm has a market cap of C$242.42 million, a P/E ratio of 15.13, a P/E/G ratio of 3.28 and a beta of 0.89. Polaris Renewable Energy has a 12-month low of C$11.08 and a 12-month high of C$15.77. The stock’s 50 day simple moving average is C$11.69 and its 200 day simple moving average is C$12.61.

Polaris Renewable Energy (TSE:PIF) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.13 by C($0.03). Polaris Renewable Energy had a return on equity of 4.37% and a net margin of 14.96%. The business had revenue of C$25.53 million during the quarter, compared to the consensus estimate of C$27.11 million. As a group, equities research analysts predict that Polaris Renewable Energy will post 0.5694106 EPS for the current year.

Polaris Renewable Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.60 annualized dividend and a yield of 5.22%. Polaris Renewable Energy’s dividend payout ratio is currently 106.58%.

Polaris Renewable Energy Company Profile

Polaris Renewable Energy Inc engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) net geothermal facility in Nicaragua; and 3 run-of-river hydroelectric facilities in Peru, with combined capacity of approximately 33 MW; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama.