Polaris Renewable Energy (TSE:PIF) Sets New 52-Week High – Time to Buy?

Polaris Renewable Energy Inc. (TSE:PIF) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$16.05 and last traded at C$15.81, with a volume of 22292 shares trading hands. The stock had previously closed at C$15.93.

Polaris Renewable Energy Stock Performance

The company has a quick ratio of 1.64, a current ratio of 4.90 and a debt-to-equity ratio of 91.92. The company has a market capitalization of C$329.42 million, a PE ratio of 47.76, a PEG ratio of 3.28 and a beta of 0.54. The company has a 50-day moving average price of C$13.61 and a two-hundred day moving average price of C$12.74.

Polaris Renewable Energy (TSE:PIF) last issued its earnings results on Thursday, May 7th. The company reported C($0.04) EPS for the quarter. The company had revenue of C$27.48 million during the quarter. Polaris Renewable Energy had a return on equity of 2.96% and a net margin of 9.00%. Analysts predict that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The company 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 annualized dividend and a yield of 3.8%. Polaris Renewable Energy’s payout ratio is currently 181.82%.

Insiders Place Their Bets

In other news, Director Marc Murnaghan bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of C$12.90 per share, with a total value of C$64,500.00. Following the acquisition, the director owned 513,501 shares of the company’s stock, valued at approximately C$6,624,162.90. The trade was a 0.98% increase in their position. Over the last 90 days, insiders have purchased 25,000 shares of company stock worth $318,100. Corporate insiders own 2.94% of the company’s stock.

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).