Brokers Issue Forecasts for Polaris Renewable Energy Inc.’s Q2 2024 Earnings (TSE:PIF)

Polaris Renewable Energy Inc. (TSE:PIF) – Investment analysts at Raymond James reduced their Q2 2024 EPS estimates for shares of Polaris Renewable Energy in a research report issued to clients and investors on Wednesday, July 24th. Raymond James analyst D. Quezada now forecasts that the company will earn $0.10 per share for the quarter, down from their prior forecast of $0.11. Raymond James currently has a “Strong-Buy” rating and a $19.00 target price on the stock. The consensus estimate for Polaris Renewable Energy’s current full-year earnings is $0.70 per share. Raymond James also issued estimates for Polaris Renewable Energy’s Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.15 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.17 EPS and FY2025 earnings at $0.62 EPS.

Separately, National Bankshares lifted their price objective on Polaris Renewable Energy from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th.

Polaris Renewable Energy Price Performance

Shares of TSE:PIF opened at C$12.97 on Friday. The firm has a market capitalization of C$273.41 million, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 3.28 and a beta of 0.89. The company has a debt-to-equity ratio of 63.65, a current ratio of 1.87 and a quick ratio of 1.64. The business’s 50 day simple moving average is C$13.01 and its 200-day simple moving average is C$12.46. Polaris Renewable Energy has a 12 month low of C$11.08 and a 12 month high of C$15.77.

Polaris Renewable Energy (TSE:PIF) last issued its earnings results on Thursday, May 2nd. The company reported C$0.28 earnings per share for the quarter, topping the consensus estimate of C$0.18 by C$0.10. Polaris Renewable Energy had a net margin of 14.42% and a return on equity of 4.21%. The company had revenue of C$27.82 million for the quarter, compared to analyst estimates of C$28.01 million.

Polaris Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Friday, May 10th. Polaris Renewable Energy’s 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.