Raymond James Cuts Polaris Renewable Energy (TSE:PIF) Price Target to C$21.50

Polaris Renewable Energy (TSE:PIF) had its price target decreased by research analysts at Raymond James from C$26.00 to C$21.50 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective would suggest a potential upside of 72.00% from the company’s current price.

Polaris Renewable Energy Stock Performance

Shares of PIF opened at C$12.50 on Thursday. Polaris Renewable Energy has a 1 year low of C$12.46 and a 1 year high of C$16.86. The company has a market cap of C$262.88 million, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.28 and a beta of 0.89. The company has a debt-to-equity ratio of 66.23, a quick ratio of 1.64 and a current ratio of 1.79. The firm has a fifty day moving average of C$14.20 and a 200-day moving average of C$14.19.

Polaris Renewable Energy (TSE:PIF) last announced its quarterly earnings results on Thursday, August 3rd. The company reported C$0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.18 by C$0.12. The company had revenue of C$27.96 million during the quarter, compared to the consensus estimate of C$27.43 million. Polaris Renewable Energy had a net margin of 14.98% and a return on equity of 4.11%. As a group, equities analysts anticipate that Polaris Renewable Energy will post 0.9281228 earnings per share for the current year.

About Polaris Renewable Energy

Polaris Renewable Energy Inc engages in the acquisition, development, and operation of renewable energy projects in Latin America. It operates a 72 MW net geothermal facility in Nicaragua; and 4 run-of-river hydroelectric facilities in Peru and Ecuador with approximately 33 MW net capacity; and solar project in the Dominican Republic and Panama.