Polaris Renewable Energy (TSE:PIF) Hits New 52-Week High - Here's What Happened

Key Points

• Polaris Renewable Energy shares reached a new 52-week high at C$13.73, showing strong trading activity with 7,675 shares exchanged.
• Analysts have mixed opinions on the stock, with a consensus rating of "Strong Buy" and a target price of C$22.67, while one firm downgraded its rating to "moderate buy."
• The company announced a quarterly dividend of $0.15, which translates to an annual yield of 4.4%, despite a high dividend payout ratio of -120.00%.

Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$13.73 and last traded at C$13.66, with a volume of 7675 shares trading hands. The stock had previously closed at C$13.65.

Analysts Set New Price Targets

Several analysts have recently commented on PIF shares. National Bank Financial upgraded Polaris Renewable Energy to a "strong-buy" rating in a research note on Sunday, June 8th. Cormark lowered shares of Polaris Renewable Energy from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, Polaris Renewable Energy has an average rating of "Strong Buy" and a consensus target price of C$22.67.

Polaris Renewable Energy Stock Up 0.7%

The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 57.48. The firm has a market cap of C$288.85 million, a PE ratio of -27.50, a price-to-earnings-growth ratio of 3.28 and a beta of 0.59. The stock has a fifty day simple moving average of C$12.73 and a two-hundred day simple moving average of C$12.15.

Polaris Renewable Energy Dividend Announcement

The firm 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 4.4%. Polaris Renewable Energy's dividend payout ratio (DPR) is presently -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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