Polaris Renewable Energy (TSE:PIF) Reaches New 12-Month Low – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$11.17 and last traded at C$11.37, with a volume of 73591 shares. The stock had previously closed at C$11.62.

Analyst Ratings Changes

Several analysts recently commented on the company. Raymond James upgraded Polaris Renewable Energy to a “strong-buy” rating in a report on Friday, February 21st. Cormark upped their price objective on shares of Polaris Renewable Energy from C$23.50 to C$25.00 in a research note on Thursday, January 30th. Finally, National Bankshares decreased their price objective on shares of Polaris Renewable Energy from C$23.00 to C$22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th.

Polaris Renewable Energy Trading Down 2.3 %

The company has a market cap of C$168.68 million, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. The firm has a 50-day moving average of C$12.20 and a 200 day moving average of C$12.57. The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 57.48.

Polaris Renewable Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, February 14th. Polaris Renewable Energy’s dividend payout ratio (DPR) is 169.88%.

Insider Activity

In other news, Director Marc Murnaghan sold 2,301 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of C$12.52, for a total transaction of C$28,808.52. 2.94% of the stock is currently owned by company insiders.

Polaris Renewable Energy Company Profile

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.