Polaris Renewable Energy (TSE:PIF) Reaches New 1-Year High - What's Next?

Key Points

• Polaris Renewable Energy's share price reached a new 52-week high of C$13.72, closing at C$13.59, with a trading volume of 19,976 shares.
• The stock is rated Strong Buy by one analyst and Buy by another, with an average target price of C$22.67.
• Polaris Renewable Energy declared a quarterly dividend of $0.15, resulting in an annualized yield of 4.4%, despite a negative payout ratio of -120.00%.

Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as C$13.72 and last traded at C$13.59, with a volume of 19976 shares traded. The stock had previously closed at C$13.65.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PIF. National Bank Financial raised shares of Polaris Renewable Energy to a "strong-buy" rating in a research report on Sunday, June 8th. Cormark cut shares of Polaris Renewable Energy from a "strong-buy" rating to a "moderate buy" rating in a research 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average target price of C$22.67.

Polaris Renewable Energy Stock Performance

The firm has a market cap of C$286.75 million, a P/E ratio of -27.30, a PEG ratio of 3.28 and a beta of 0.59. 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 company's 50-day moving average is C$12.59 and its two-hundred day moving average is C$12.10.

Polaris Renewable Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 22nd were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 4.4%. Polaris Renewable Energy's dividend payout ratio (DPR) is presently -120.00%.

About Polaris Renewable Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.