Cormark Forecasts Strong Price Appreciation for Polaris Renewable Energy (TSE:PIF) Stock

Polaris Renewable Energy (TSE:PIF) had its price objective lifted by equities researchers at Cormark from C$23.50 to C$25.00 in a report issued on Thursday,BayStreet.CA reports. Cormark’s target price would indicate a potential upside of 95.31% from the stock’s previous close.

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

Polaris Renewable Energy Stock Up 1.2 %

Shares of Polaris Renewable Energy stock traded up C$0.15 on Thursday, hitting C$12.80. 5,730 shares of the company traded hands, compared to its average volume of 33,667. The company has a 50-day moving average price of C$13.10 and a 200 day moving average price of C$12.63. The company has a quick ratio of 1.64, a current ratio of 1.86 and a debt-to-equity ratio of 62.63. Polaris Renewable Energy has a 12-month low of C$11.08 and a 12-month high of C$14.14. The company has a market cap of C$269.82 million, a PE ratio of 25.60, a PEG ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy (TSE:PIF) last released its earnings results on Thursday, October 31st. The company reported C$0.03 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). Polaris Renewable Energy had a return on equity of 2.88% and a net margin of 10.08%. During the same quarter last year, the business posted $0.07 EPS. Sell-side analysts predict that Polaris Renewable Energy will post 0.6481187 earnings per share for the current year.

Insider Buying and Selling at Polaris Renewable Energy

In related news, Director Marc Murnaghan bought 41,500 shares of Polaris Renewable Energy stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of C$12.49 per share, with a total value of C$518,413.85. Company insiders own 2.94% of the company’s stock.

Polaris Renewable Energy Company Profile

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.