Cormark Issues Pessimistic Forecast for TSE:PIF Earnings

Polaris Renewable Energy Inc. (TSE:PIF) – Investment analysts at Cormark lowered their FY2024 earnings per share (EPS) estimates for shares of Polaris Renewable Energy in a research report issued on Friday, November 1st. Cormark analyst N. Boychuk now anticipates that the company will earn $0.50 per share for the year, down from their previous forecast of $0.57. The consensus estimate for Polaris Renewable Energy’s current full-year earnings is $0.65 per share.

PIF has been the topic of several other research reports. Raymond James boosted their price target on 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. National Bankshares boosted their price target on Polaris Renewable Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th.

Polaris Renewable Energy Trading Up 2.5 %

Shares of TSE:PIF opened at C$12.40 on Monday. The business’s 50-day moving average is C$12.31 and its 200 day moving average is C$12.50. Polaris Renewable Energy has a 1 year low of C$11.08 and a 1 year high of C$14.14. The firm has a market capitalization of C$261.39 million, a P/E ratio of 24.80, a P/E/G 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.

Polaris Renewable Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be paid a $0.203 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 6.55%. Polaris Renewable Energy’s payout ratio is 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.