Polaris Renewable Energy (TSE:PIF) Stock Price Down 1.1% - Time to Sell?

Key Points

• Polaris Renewable Energy's stock price declined by 1.1%, trading as low as C$13.72 with an average volume drop of 45% in shares traded.
• Cormark has downgraded the company from a "strong-buy" to a "moderate buy" rating, although the average target price remains at C$22.67.
• The company recently declared a quarterly dividend of $0.15 per share, yielding 4.4%, despite a high dividend payout ratio of -120.00%.

Shares of Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report) traded down 1.1% during mid-day trading on Tuesday . The company traded as low as C$13.72 and last traded at C$13.79. 18,744 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 34,165 shares. The stock had previously closed at C$13.95.

Analysts Set New Price Targets

Separately, Cormark lowered Polaris Renewable Energy from a "strong-buy" rating to a "moderate buy" rating in a research note 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 company. Based on data from MarketBeat, Polaris Renewable Energy currently has an average rating of "Strong Buy" and an average target price of C$22.67.

Polaris Renewable Energy Trading Down 1.1%

The stock has a market cap of C$289.69 million, a PE ratio of -27.58, a price-to-earnings-growth ratio of 3.28 and a beta of 0.47. The business has a 50 day moving average of C$13.24 and a 200-day moving average of C$12.38. The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 57.48.

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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, August 11th. Polaris Renewable Energy's dividend payout ratio is currently -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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