Polaris Renewable Energy (TSE:PIF) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$12.20 and traded as low as C$12.02. Polaris Renewable Energy shares last traded at C$12.10, with a volume of 84,527 shares traded.

Wall Street Analysts Forecast Growth

PIF has been the subject of several recent analyst reports. Raymond James Financial dropped 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 report on Friday, February 20th. National Bank Financial increased their price target on Polaris Renewable Energy from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$19.63.

Polaris Renewable Energy Price Performance

The stock’s 50 day moving average price is C$12.20 and its 200-day moving average price is C$12.55. The company has a quick ratio of 1.64, a current ratio of 5.25 and a debt-to-equity ratio of 91.31. The stock has a market capitalization of C$257.43 million, a PE ratio of -94.77, a price-to-earnings-growth ratio of 3.28 and a beta of 0.51.

Polaris Renewable Energy (TSE:PIF) last posted its quarterly earnings results on Thursday, February 19th. The company reported C$0.39 EPS for the quarter. The company had revenue of C$25.57 million for the quarter. Polaris Renewable Energy had a negative net margin of 3.29% and a negative return on equity of 1.09%. As a group, equities analysts forecast that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current year.

Polaris Renewable Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 27th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Polaris Renewable Energy’s payout ratio is currently -461.54%.

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.