Polaris Renewable Energy (TSE:PIF) Hits New 12-Month High - What's Next?

Key Points

• Polaris Renewable Energy Inc. shares reached a new 52-week high of C$14.06, closing at C$13.93, with a trading volume of 13,923 shares.
• Cormark downgraded the company's rating from a "strong-buy" to a "moderate buy", although the stock still maintains a consensus rating of "Strong Buy" and a price target of C$22.67.
• The company recently declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend of $0.60 and a yield of 4.3%.

Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as C$14.06 and last traded at C$13.93, with a volume of 13923 shares. The stock had previously closed at C$13.95.

Analysts Set New Price Targets

Separately, Cormark downgraded Polaris Renewable Energy from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus price target of C$22.67.

Polaris Renewable Energy Price Performance

The company has a market cap of C$293.05 million, a P/E ratio of -27.90, a PEG ratio of 3.28 and a beta of 0.47. The company has a fifty day simple moving average of C$13.18 and a 200-day simple moving average of C$12.35. The company has a debt-to-equity ratio of 57.48, a current ratio of 1.82 and a quick ratio of 1.64.

Polaris Renewable Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 22nd were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 4.3%. Polaris Renewable Energy's dividend payout ratio is currently -120.00%.

Polaris Renewable Energy Company Profile

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.

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