TSE:PIF FY2024 EPS Forecast Cut by National Bank Financial

Polaris Renewable Energy Inc. (TSE:PIF) – National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Polaris Renewable Energy in a research note issued on Thursday, November 21st. National Bank Financial analyst R. Merer now expects that the company will earn $0.39 per share for the year, down from their previous estimate of $0.46. The consensus estimate for Polaris Renewable Energy’s current full-year earnings is $0.65 per share. National Bank Financial also issued estimates for Polaris Renewable Energy’s Q4 2024 earnings at $0.01 EPS.

Separately, Raymond James boosted their target price on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the stock a “strong-buy” rating in a report on Friday, November 1st.

Polaris Renewable Energy Stock Performance

PIF stock opened at C$12.87 on Monday. Polaris Renewable Energy has a fifty-two week low of C$11.08 and a fifty-two week high of C$14.14. The company has a market capitalization of C$271.30 million, a P/E ratio of 25.76, a PEG ratio of 3.28 and a beta of 0.97. The company has a 50-day simple moving average of C$12.43 and a 200 day simple moving average of C$12.57. The company has a quick ratio of 1.64, a current ratio of 1.86 and a debt-to-equity ratio of 62.63.

Polaris Renewable Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.203 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 6.31%. Polaris Renewable Energy’s dividend payout ratio is currently 164.00%.

Insider Activity at Polaris Renewable Energy

In other Polaris Renewable Energy news, Director Marc Murnaghan purchased 41,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were acquired at an average price of C$12.49 per share, for a total transaction of C$518,413.85. 2.94% of the stock is owned by insiders.

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.