Altius Renewable Royalties (TSE:ARR) Announces Earnings Results

Posted by Samantha Reynolds on May 4th, 2024

Altius Renewable Royalties (TSE:ARR – Get Free Report) released its earnings results on Thursday. The company reported C($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.05), reports. The firm had revenue of C$1.47 million for the quarter, compared to analyst estimates of C$1.50 million. Altius Renewable Royalties had a negative return on equity of 0.60% and a negative net margin of 227.79%.

Altius Renewable Royalties Stock Up 0.7 %

Shares of ARR opened at C$9.27 on Friday. The company has a 50-day simple moving average of C$8.95 and a 200-day simple moving average of C$8.15. The firm has a market capitalization of C$285.42 million, a P/E ratio of -185.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 102.67 and a current ratio of 209.99. Altius Renewable Royalties has a 52 week low of C$6.60 and a 52 week high of C$9.75.

Analysts Set New Price Targets

A number of research firms have weighed in on ARR. National Bankshares boosted their target price on shares of Altius Renewable Royalties from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. TD Securities upped their price objective on shares of Altius Renewable Royalties from C$11.50 to C$12.50 and gave the company a “buy” rating in a research report on Friday, March 1st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$11.90.

Get Our Latest Analysis on ARR

Altius Renewable Royalties Company Profile

(Get Free Report)

Altius Renewable Royalties Corp., a renewable energy royalty company, engages in the acquisition and management of renewable energy investments and royalties in North America. The company holds interests in a portfolio of 2,068 MW of operational wind, solar, and hydroelectric projects located in Texas, Kansas, California, and Vermont.