Polaris Renewable Energy (TSE:PIF) Stock Price Expected to Rise, Raymond James Analyst Says

Polaris Renewable Energy (TSE:PIF) had its price objective hoisted by Raymond James from C$19.00 to C$21.00 in a research note released on Friday morning, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the stock. Raymond James also issued estimates for Polaris Renewable Energy’s FY2024 earnings at $0.55 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.25 EPS and FY2025 earnings at $0.75 EPS.

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 Up 0.8 %

TSE:PIF opened at C$12.10 on Friday. 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 debt-to-equity ratio of 62.63, a quick ratio of 1.64 and a current ratio of 1.86. The stock has a fifty day moving average price of C$12.31 and a two-hundred day moving average price of C$12.50. The stock has a market capitalization of C$255.07 million, a price-to-earnings ratio of 24.20, a PEG ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy (TSE:PIF) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.03). The company had revenue of C$25.59 million during 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%. As a group, sell-side analysts anticipate that Polaris Renewable Energy will post 0.6481187 earnings per share for the current fiscal year.

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 issued 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 6.71%. Polaris Renewable Energy’s dividend payout ratio (DPR) is currently 164.00%.

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.