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

Polaris Renewable Energy (TSE:PIF – Free Report) 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.

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Polaris Renewable Energy Trading Up 0.8 %

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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 – Get Free Report) 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

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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.