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

Key Points

• Polaris Renewable Energy shares reached a new 52-week high, trading at C$13.94 before slightly closing at C$13.93, with a trading volume of 28,512 shares.
• The stock has been downgraded by Cormark from a "strong-buy" to a "moderate buy", but still holds an average target price of C$22.67.
• Polaris recently announced a quarterly dividend of $0.15, providing an annualized dividend yield of 4.3%, although the current dividend payout ratio stands at -120.00%.

Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$13.94 and last traded at C$13.93, with a volume of 28512 shares. The stock had previously closed at C$13.73.

Analyst Ratings Changes

Separately, Cormark downgraded Polaris Renewable Energy from a "strong-buy" rating to a "moderate buy" rating in a 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 stock. According to data from MarketBeat, Polaris Renewable Energy has an average rating of "Strong Buy" and an average target price of C$22.67.

Polaris Renewable Energy Price Performance

The company has a debt-to-equity ratio of 57.48, a quick ratio of 1.64 and a current ratio of 1.82. The firm has a market capitalization of C$293.47 million, a PE ratio of -27.94, a P/E/G ratio of 3.28 and a beta of 0.47. The stock has a fifty day moving average price of C$13.07 and a 200-day moving average price of C$12.29.

Polaris Renewable Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.3%. 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.

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