Polaris Renewable Energy (TSE:PIF) Shares Up 0.8% - Here's What Happened

Key Points

• Polaris Renewable Energy shares rose 0.8% to C$12.98 on Monday, and analysts have an average Buy rating with an average price target of C$19.63 (National Bank C$21.00; Raymond James C$18.25).
• The company paid a quarterly dividend of C$0.15 on Feb. 27 (annualized C$0.60), implying a 4.6% dividend yield, though the reported payout ratio is an unusual -461.54%.
• Polaris operates a 72‑megawatt geothermal facility (San Jacinto), reported C$25.57M in quarterly revenue and C$0.39 EPS, has a market cap of C$271.2M and debt‑to‑equity of 91.31, and a director recently sold 10,000 shares while insiders own 2.94%.

Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report) shares shot up 0.8% during trading on Monday . The stock traded as high as C$13.03 and last traded at C$12.98. 22,951 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 40,373 shares. The stock had previously closed at C$12.88.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PIF. National Bank Financial raised their price target on Polaris Renewable Energy from C$20.00 to C$21.00 and gave the company an "outperform" rating in a report on Wednesday, January 7th. Raymond James Financial reduced their price objective on Polaris Renewable Energy from C$20.00 to C$18.25 and set an "outperform" rating for the company in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$19.63.

Polaris Renewable Energy Price Performance

The company has a 50 day moving average of C$12.33 and a 200 day moving average of C$12.44. The company has a quick ratio of 1.64, a current ratio of 5.25 and a debt-to-equity ratio of 91.31. The stock has a market capitalization of C$271.22 million, a price-to-earnings ratio of -99.85, a price-to-earnings-growth ratio of 3.28 and a beta of 0.38.

Polaris Renewable Energy (TSE:PIF - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported C$0.39 earnings per share (EPS) for the quarter. Polaris Renewable Energy had a negative return on equity of 1.09% and a negative net margin of 3.29%.The firm had revenue of C$25.57 million during the quarter. As a group, equities research analysts forecast that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 27th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.6%. Polaris Renewable Energy's dividend payout ratio is presently -461.54%.

Insider Buying and Selling at Polaris Renewable Energy

In other news, Director Marc Murnaghan sold 10,000 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of C$11.90, for a total value of C$119,000.00. Following the completion of the sale, the director owned 508,501 shares of the company's stock, valued at C$6,051,161.90. This represents a 1.93% decrease in their ownership of the stock. 2.94% of the stock is owned by insiders.

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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