Polaris Renewable Energy (TSE:PIF) Share Price Passes Above Fifty Day Moving Average of $12.31

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$12.31 and traded as high as C$12.33. Polaris Renewable Energy shares last traded at C$12.25, with a volume of 16,346 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, National Bankshares boosted their price objective 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 Price Performance

The company has a market cap of C$264.34 million, a PE ratio of 25.08, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. The business has a 50 day moving average of C$12.31 and a 200 day moving average of C$12.35. The company has a debt-to-equity ratio of 62.63, a current ratio of 1.86 and a quick ratio of 1.64.

Polaris Renewable Energy (TSE:PIF) last announced its earnings results on Thursday, August 1st. The company reported C$0.07 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.03). Polaris Renewable Energy had a net margin of 10.08% and a return on equity of 2.88%. The company had revenue of C$25.59 million for the quarter, compared to the consensus estimate of C$25.50 million. As a group, research analysts predict that Polaris Renewable Energy Inc. will post 0.6495816 EPS for the current year.

Polaris Renewable Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were given a $0.205 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from Polaris Renewable Energy’s previous quarterly dividend of $0.15. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.54%. Polaris Renewable Energy’s dividend 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.