Polaris Renewable Energy (TSE:PIF) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Shares of Polaris Renewable Energy Inc. (TSE:PIF) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$13.42 and traded as low as C$11.98. Polaris Renewable Energy shares last traded at C$12.00, with a volume of 39,128 shares traded.

Wall Street Analysts Forecast Growth

Separately, Cormark lowered shares of Polaris Renewable Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus price target of C$23.50.

Polaris Renewable Energy Price Performance

The company has a debt-to-equity ratio of 57.48, a current ratio of 1.82 and a quick ratio of 1.64. The company has a fifty day moving average of C$13.37 and a 200 day moving average of C$12.58. The firm has a market capitalization of C$251.60 million, a P/E ratio of -22.20, a PEG ratio of 3.28 and a beta of 0.48.

Polaris Renewable Energy (TSE:PIF) last posted its quarterly earnings data on Thursday, October 30th. The company reported C($0.02) EPS for the quarter. The firm had revenue of C$26.51 million during the quarter. Polaris Renewable Energy had a net margin of 9.49% and a return on equity of 2.68%. Sell-side analysts predict that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current year.

Polaris Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 21st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, November 10th. Polaris Renewable Energy’s payout ratio is presently -111.11%.

Polaris Renewable Energy Company Profile

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.