Cormark Has Bullish Estimate for TSE:PIF FY2024 Earnings

Polaris Renewable Energy Inc. (TSE:PIF) – Investment analysts at Cormark raised their FY2024 earnings estimates for Polaris Renewable Energy in a research note issued to investors on Monday, November 18th. Cormark analyst N. Boychuk now expects that the company will post earnings per share of $0.51 for the year, up from their prior estimate of $0.50. The consensus estimate for Polaris Renewable Energy’s current full-year earnings is $0.65 per share. Cormark also issued estimates for Polaris Renewable Energy’s FY2025 earnings at $0.49 EPS.

Separately, Raymond James raised their target price on shares of Polaris Renewable Energy from C$19.00 to C$21.00 and gave the stock a “strong-buy” rating in a report on Friday, November 1st.

Polaris Renewable Energy Trading Down 2.1 %

TSE:PIF opened at C$12.26 on Wednesday. The stock has a fifty day simple moving average of C$12.41 and a 200 day simple moving average of C$12.56. The firm has a market capitalization of C$258.44 million, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. Polaris Renewable Energy has a 1-year low of C$11.08 and a 1-year high of C$14.14. The company has a quick ratio of 1.64, a current ratio of 1.86 and a debt-to-equity ratio of 62.63.

Insider Transactions at Polaris Renewable Energy

In other Polaris Renewable Energy news, Director Marc Murnaghan purchased 41,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were bought at an average price of C$12.49 per share, for a total transaction of C$518,413.85. 2.94% of the stock is owned by insiders.

Polaris Renewable Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.203 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.81 annualized dividend and a yield of 6.62%. Polaris Renewable Energy’s dividend payout ratio (DPR) is presently 164.00%.

About Polaris Renewable Energy

Polaris Renewable Energy Inc engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) net geothermal facility in Nicaragua; and 3 run-of-river hydroelectric facilities in Peru, with combined capacity of approximately 33 MW; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama.