Brokers Issue Forecasts for TSE:PIF FY2024 Earnings

Polaris Renewable Energy Inc. (TSE:PIF - Free Report) - Equities researchers at National Bank Financial decreased their FY2024 EPS estimates for shares of Polaris Renewable Energy in a research report issued to clients and investors on Thursday, November 21st. National Bank Financial analyst R. Merer now anticipates that the company will post earnings of $0.39 per share for the year, down from their previous estimate of $0.46. The consensus estimate for Polaris Renewable Energy's current full-year earnings is $0.65 per share. National Bank Financial also issued estimates for Polaris Renewable Energy's Q4 2024 earnings at $0.01 EPS.

Separately, Raymond James increased their price target on shares of Polaris Renewable Energy from C$19.00 to C$21.00 and gave the company a "strong-buy" rating in a research report on Friday, November 1st.

Polaris Renewable Energy Stock Down 1.5 %

Shares of TSE:PIF traded down C$0.20 on Monday, reaching C$13.02. The company had a trading volume of 37,942 shares, compared to its average volume of 45,931. The company has a current ratio of 1.86, a quick ratio of 1.64 and a debt-to-equity ratio of 62.63. The firm has a market capitalization of C$274.46 million, a PE ratio of 26.42, a PEG ratio of 3.28 and a beta of 0.97. Polaris Renewable Energy has a 52-week low of C$11.08 and a 52-week high of C$14.14. The firm's 50 day simple moving average is C$12.42 and its 200-day simple moving average is C$12.57.

Polaris Renewable Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a dividend of $0.203 per share. The ex-dividend date was Friday, November 8th. This represents a $0.81 annualized dividend and a yield of 6.24%. Polaris Renewable Energy's dividend payout ratio (DPR) is 164.00%.

Insider Activity at Polaris Renewable Energy

In other news, Director Marc Murnaghan bought 41,500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average cost of C$12.49 per share, with a total value of C$518,413.85. 2.94% of the stock is currently owned by corporate insiders.

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.