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

Key Points

• Shares of Polaris Renewable Energy reached a new 52-week high, trading at C$13.87 with a volume of 16,967 shares.
• The stock has a consensus rating of "Strong Buy" and a price target of C$22.67, despite a recent downgrade from Cormark.
• Polaris also announced a quarterly dividend of $0.15 per share, representing an annualized yield of 4.3%.

Shares of Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as C$13.87 and last traded at C$13.85, with a volume of 16967 shares traded. The stock had previously closed at C$13.76.

Wall Street Analyst Weigh In

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

Polaris Renewable Energy Stock Up 1.7%

The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 57.48. The company has a market cap of C$293.89 million, a price-to-earnings ratio of -27.98, a price-to-earnings-growth ratio of 3.28 and a beta of 0.47. The firm's 50 day simple moving average is C$12.92 and its 200 day simple moving average is C$12.22.

Polaris Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 22nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 4.3%. 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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