Polaris Renewable Energy (TSE:PIF) Trading Up 11.2% – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF) shot up 11.2% during trading on Tuesday . The stock traded as high as C$14.75 and last traded at C$14.62. 139,087 shares traded hands during mid-day trading, an increase of 240% from the average session volume of 40,860 shares. The stock had previously closed at C$13.15.

Wall Street Analyst Weigh In

Separately, Raymond James Financial lowered their target price on Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating for the company in a research note on Friday, February 20th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$19.63.

Polaris Renewable Energy Trading Up 12.2%

The company has a debt-to-equity ratio of 91.92, a current ratio of 4.90 and a quick ratio of 1.64. The business has a 50 day moving average of C$12.76 and a 200 day moving average of C$12.32. The firm has a market capitalization of C$308.51 million, a price-to-earnings ratio of 44.73, a PEG ratio of 3.28 and a beta of 0.62.

Polaris Renewable Energy (TSE:PIF) last announced its quarterly earnings data on Thursday, May 7th. The company reported C($0.04) EPS for the quarter. Polaris Renewable Energy had a return on equity of 2.96% and a net margin of 9.00%.The company had revenue of C$27.48 million for the quarter. As a group, research analysts predict that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.1%. Polaris Renewable Energy’s payout ratio is 181.82%.

Insider Activity at Polaris Renewable Energy

In other news, Director Marc Murnaghan bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of C$12.90 per share, for a total transaction of C$64,500.00. Following the completion of the acquisition, the director owned 513,501 shares in the company, valued at approximately C$6,624,162.90. This trade represents a 0.98% increase in their position. Insiders acquired 30,000 shares of company stock worth $378,800 over the last ninety days. 2.94% of the stock is owned by insiders.

Polaris Renewable Energy Company Profile

Polaris Renewable Energy Inc is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Company’s operations include a geothermal plant (82 MW), four run-of river hydroelectric plants (39 MW), three solar (photovoltaic) projects (35 MW) and an onshore wind farm (26 MW).