Polaris Renewable Energy (TSE:PIF) Reaches New 12-Month High – What’s Next?

Polaris Renewable Energy Inc. (TSE:PIF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$14.89 and last traded at C$14.70, with a volume of 52779 shares traded. The stock had previously closed at C$14.78.

Analyst Ratings Changes

Separately, Raymond James Financial decreased their price target on Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating for the company in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$19.63.

Polaris Renewable Energy Stock Down 0.3%

The company has a debt-to-equity ratio of 91.92, a quick ratio of 1.64 and a current ratio of 4.90. The business’s 50 day simple moving average is C$12.90 and its 200-day simple moving average is C$12.37. The company has a market cap of C$303.71 million, a price-to-earnings ratio of 44.03, a price-to-earnings-growth ratio of 3.28 and a beta of 0.62.

Polaris Renewable Energy (TSE:PIF) last issued its earnings results on Thursday, May 7th. The company reported C($0.04) EPS for the quarter. Polaris Renewable Energy had a net margin of 9.00% and a return on equity of 2.96%. The firm had revenue of C$27.48 million during the quarter. Sell-side analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current year.

Polaris Renewable Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.1%. Polaris Renewable Energy’s dividend payout ratio (DPR) is currently 181.82%.

Insider Activity

In other Polaris Renewable Energy news, Director Marc Murnaghan acquired 5,000 shares of Polaris Renewable Energy stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of C$12.90 per share, with a total value of C$64,500.00. Following the purchase, the director owned 513,501 shares in the company, valued at approximately C$6,624,162.90. This trade represents a 0.98% increase in their ownership of the stock. Over the last three months, insiders have acquired 30,000 shares of company stock valued at $378,800. 2.94% of the stock is currently owned by insiders.

Polaris Renewable Energy Company Profile

Polaris Renewable Energy Inc is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Company’s operations include a geothermal plant (82 MW), four run-of river hydroelectric plants (39 MW), three solar (photovoltaic) projects (35 MW) and an onshore wind farm (26 MW).