Polaris Renewable Energy (TSE:PIF) Stock Crosses Above 50 Day Moving Average of $12.38

Polaris Renewable Energy Inc. (TSE:PIF)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$12.38 and traded as high as C$13.10. Polaris Renewable Energy shares last traded at C$12.94, with a volume of 37,227 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, National Bankshares lifted their price target on shares of Polaris Renewable Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th.

Polaris Renewable Energy Trading Down 0.2 %

The firm has a market cap of C$272.78 million, a PE ratio of 25.88, a PEG ratio of 3.28 and a beta of 0.97. The company has a debt-to-equity ratio of 62.63, a current ratio of 1.86 and a quick ratio of 1.64. The business has a 50-day moving average price of C$12.38 and a two-hundred day moving average price of C$12.31.

Polaris Renewable Energy (TSE:PIF) last posted its earnings results on Thursday, August 1st. The company reported C$0.07 earnings per share for the quarter, missing the consensus estimate of C$0.10 by C($0.03). The business had revenue of C$25.59 million for the quarter, compared to analysts’ expectations of C$25.50 million. Polaris Renewable Energy had a net margin of 10.08% and a return on equity of 2.88%. Analysts forecast that Polaris Renewable Energy Inc. will post 0.6507772 EPS for the current year.

Polaris Renewable Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were given a dividend of $0.205 per share. This is an increase from Polaris Renewable Energy’s previous quarterly dividend of $0.15. This represents a $0.82 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Monday, August 12th. Polaris Renewable Energy’s payout ratio is currently 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.