Polaris Renewable Energy (TSE:PIF) Price Target Raised to C$21.00

Polaris Renewable Energy (TSE:PIF) had its target price upped by Raymond James from C$19.00 to C$21.00 in a research note released on Friday, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the stock. Raymond James also issued estimates for Polaris Renewable Energy’s FY2024 earnings at $0.55 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.25 EPS and FY2025 earnings at $0.75 EPS.

Separately, National Bankshares boosted their price target on Polaris Renewable Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th.

Polaris Renewable Energy Stock Performance

Shares of PIF opened at C$12.10 on Friday. The company’s 50 day simple moving average is C$12.31 and its 200-day simple moving average is C$12.50. The firm has a market cap of C$255.07 million, a PE ratio of 24.20, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. Polaris Renewable Energy has a 12-month low of C$11.08 and a 12-month high of C$14.14. The company has a current ratio of 1.86, a quick ratio of 1.64 and a debt-to-equity ratio of 62.63.

Polaris Renewable Energy (TSE:PIF) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.10 by C($0.03). Polaris Renewable Energy had a return on equity of 2.88% and a net margin of 10.08%. The business had revenue of C$25.59 million for the quarter, compared to analysts’ expectations of C$25.50 million. As a group, equities analysts predict that Polaris Renewable Energy will post 0.6481187 EPS for the current year.

Polaris Renewable Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.203 per share. The ex-dividend date is Friday, November 8th. This represents a $0.81 dividend on an annualized basis and a yield of 6.71%. Polaris Renewable Energy’s payout ratio is currently 164.00%.

About Polaris Renewable Energy

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.