Pinnacle Renewable Holdings Inc (TSE:PL) – Equities researchers at Cormark decreased their Q4 2019 earnings per share (EPS) estimates for shares of Pinnacle Renewable in a note issued to investors on Thursday, November 14th. Cormark analyst B. Watson now anticipates that the company will earn ($0.03) per share for the quarter, down from their previous estimate of $0.06. Cormark also issued estimates for Pinnacle Renewable’s Q1 2020 earnings at ($0.04) EPS, Q2 2020 earnings at $0.01 EPS, Q3 2020 earnings at $0.06 EPS, Q4 2020 earnings at $0.11 EPS and FY2020 earnings at $0.13 EPS.
PL has been the topic of a number of other reports. National Bank Financial dropped their target price on shares of Pinnacle Renewable from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank of Canada dropped their target price on shares of Pinnacle Renewable from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. CIBC dropped their target price on shares of Pinnacle Renewable from C$11.00 to C$10.00 in a report on Wednesday, October 23rd. Finally, GMP Securities increased their target price on shares of Pinnacle Renewable from C$13.00 to C$14.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Pinnacle Renewable has an average rating of “Buy” and a consensus target price of C$13.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.08%. Pinnacle Renewable’s dividend payout ratio (DPR) is 378.15%.
About Pinnacle Renewable
Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by utilities and large-scale power generators to produce renewable and baseload power.
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