Polaris Renewable Energy (TSE:PIF) Shares Up 0.8% – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF) shot up 0.8% during mid-day trading on Monday . The stock traded as high as C$13.03 and last traded at C$12.98. 22,951 shares changed hands during trading, a decline of 43% from the average session volume of 40,373 shares. The stock had previously closed at C$12.88.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PIF. Raymond James Financial dropped their price target on Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating on the stock in a research report on Friday, February 20th. National Bank Financial raised their target price on Polaris Renewable Energy from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$19.63.

Polaris Renewable Energy Trading Up 0.8%

The firm has a market capitalization of C$271.22 million, a P/E ratio of -99.85, a price-to-earnings-growth ratio of 3.28 and a beta of 0.38. The company has a debt-to-equity ratio of 91.31, a quick ratio of 1.64 and a current ratio of 5.25. The firm has a 50 day moving average price of C$12.33 and a two-hundred day moving average price of C$12.44.

Polaris Renewable Energy (TSE:PIF) last released its quarterly earnings data on Thursday, February 19th. The company reported C$0.39 earnings per share for the quarter. The business had revenue of C$25.57 million during the quarter. Polaris Renewable Energy had a negative return on equity of 1.09% and a negative net margin of 3.29%. On average, equities research analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 27th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.6%. Polaris Renewable Energy’s dividend payout ratio (DPR) is currently -461.54%.

Insider Activity

In other news, Director Marc Murnaghan sold 10,000 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of C$11.90, for a total value of C$119,000.00. Following the completion of the sale, the director owned 508,501 shares in the company, valued at C$6,051,161.90. This represents a 1.93% decrease in their ownership of the stock. 2.94% of the stock is owned by insiders.

Polaris Renewable Energy Company Profile

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.