Polaris Renewable Energy (TSE:PIF) Sets New 1-Year High – What’s Next?

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price hit a new 52-week high during 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 changing hands. The stock had previously closed at C$14.78.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reduced their price objective on shares of 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 analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$19.63.

Polaris Renewable Energy Price Performance

The company has a quick ratio of 1.64, a current ratio of 4.90 and a debt-to-equity ratio of 91.92. The company has a market cap of C$305.17 million, a price-to-earnings ratio of 44.24, a price-to-earnings-growth ratio of 3.28 and a beta of 0.62. The company has a fifty day simple moving average of C$12.81 and a two-hundred day simple moving average of C$12.34.

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

Polaris Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.60 annualized dividend and a yield of 4.1%. Polaris Renewable Energy’s dividend payout ratio is 181.82%.

Insiders Place Their Bets

In other news, Director Marc Murnaghan bought 5,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of C$12.90 per share, with a total value of C$64,500.00. Following the completion of the acquisition, the director owned 513,501 shares of the company’s stock, valued at approximately C$6,624,162.90. This trade represents a 0.98% increase in their ownership of the stock. Insiders acquired a total of 30,000 shares of company stock valued at $378,800 over the last quarter. 2.94% of the stock is currently owned by corporate insiders.

About Polaris Renewable Energy

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).