What is Cormark’s Estimate for TSE:PIF FY2024 Earnings?

Polaris Renewable Energy Inc. (TSE:PIF) – Stock analysts at Cormark increased their FY2024 earnings per share estimates for Polaris Renewable Energy in a research report issued on Monday, November 18th. Cormark analyst N. Boychuk now anticipates that the company will post earnings per share of $0.51 for the year, up from their previous forecast of $0.50. The consensus estimate for Polaris Renewable Energy’s current full-year earnings is $0.65 per share. Cormark also issued estimates for Polaris Renewable Energy’s FY2025 earnings at $0.49 EPS.

Separately, Raymond James upped their price objective on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the company a “strong-buy” rating in a research note on Friday, November 1st.

Polaris Renewable Energy Price Performance

TSE:PIF opened at C$12.26 on Wednesday. The company has a market capitalization of C$258.44 million, a price-to-earnings ratio of 24.52, a PEG ratio of 3.28 and a beta of 0.97. The company has a 50-day moving average of C$12.41 and a 200-day moving average of C$12.56. Polaris Renewable Energy has a 52 week low of C$11.08 and a 52 week high of C$14.14. The company has a debt-to-equity ratio of 62.63, a quick ratio of 1.64 and a current ratio of 1.86.

Polaris Renewable Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be paid a $0.203 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date is Friday, November 8th. Polaris Renewable Energy’s dividend payout ratio is currently 164.00%.

Insider Transactions at Polaris Renewable Energy

In other news, Director Marc Murnaghan bought 41,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was bought at an average price of C$12.49 per share, for a total transaction of C$518,413.85. Company insiders own 2.94% of the company’s stock.

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.