Polaris Renewable Energy Inc. (TSE:PIF) Expected to Earn FY2024 Earnings of $0.70 Per Share

Polaris Renewable Energy Inc. (TSE:PIF) – Equities research analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for shares of Polaris Renewable Energy in a report issued on Tuesday, July 23rd. Cormark analyst N. Boychuk now forecasts that the company will post earnings per share of $0.70 for the year, down from their prior forecast of $0.71. The consensus estimate for Polaris Renewable Energy’s current full-year earnings is $0.70 per share.

Polaris Renewable Energy (TSE:PIF) last released its earnings results on Thursday, May 2nd. The company reported C$0.28 EPS for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.10. The company had revenue of C$27.82 million during the quarter, compared to analysts’ expectations of C$28.01 million. Polaris Renewable Energy had a return on equity of 4.21% and a net margin of 14.42%.

A number of other research analysts have also recently issued reports on the company. Raymond James lowered their price objective on Polaris Renewable Energy from C$21.50 to C$19.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. National Bankshares lifted their price objective on Polaris Renewable Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th.

Polaris Renewable Energy Trading Down 1.7 %

PIF opened at C$12.67 on Friday. The stock has a market cap of C$267.08 million, a PE ratio of 16.89, a PEG ratio of 3.28 and a beta of 0.89. The company has a quick ratio of 1.64, a current ratio of 1.87 and a debt-to-equity ratio of 63.65. The business has a 50 day moving average of C$13.01 and a 200-day moving average of C$12.47. Polaris Renewable Energy has a 52 week low of C$11.08 and a 52 week high of C$15.77.

Polaris Renewable Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Friday, May 10th. Polaris Renewable Energy’s dividend payout ratio is currently 109.33%.

About Polaris Renewable Energy

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.