Cormark Has Pessimistic Outlook of TSE:PIF FY2024 Earnings

Polaris Renewable Energy Inc. (TSE:PIF) – Research analysts at Cormark dropped their FY2024 EPS estimates for shares of Polaris Renewable Energy in a research report issued on Friday, November 1st. Cormark analyst N. Boychuk now expects that the company will earn $0.50 per share for the year, down from their previous forecast of $0.57. The consensus estimate for Polaris Renewable Energy’s current full-year earnings is $0.65 per share.

Several other research analysts have also commented on PIF. National Bankshares boosted their price target on Polaris Renewable Energy from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Raymond James lifted their target price on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the company a “strong-buy” rating in a research note on Friday.

Polaris Renewable Energy Stock Performance

Shares of TSE:PIF opened at C$12.10 on Monday. The company has a quick ratio of 1.64, a current ratio of 1.86 and a debt-to-equity ratio of 62.63. The company has a market capitalization of C$255.07 million, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. The firm has a 50 day moving average of C$12.31 and a 200 day moving average of C$12.50. Polaris Renewable Energy has a 52 week low of C$11.08 and a 52 week high of C$14.14.

Polaris Renewable Energy (TSE:PIF) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.03). The business had revenue of C$25.59 million for the quarter, compared to the consensus estimate of C$25.50 million. Polaris Renewable Energy had a net margin of 10.08% and a return on equity of 2.88%.

Polaris Renewable Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Friday, November 8th. Polaris Renewable Energy’s payout ratio is presently 164.00%.

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.