Raymond James Lowers Polaris Renewable Energy (TSE:PIF) Price Target to C$19.00

Polaris Renewable Energy (TSE:PIF) had its price objective reduced by equities research analysts at Raymond James from C$21.50 to C$19.00 in a research report issued on Thursday, BayStreet.CA reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target would suggest a potential upside of 65.79% from the stock’s previous close.

Polaris Renewable Energy Stock Performance

Shares of Polaris Renewable Energy stock traded down C$0.17 during trading hours on Thursday, hitting C$11.46. 29,706 shares of the company were exchanged, compared to its average volume of 51,131. The business has a 50-day moving average of C$11.70 and a 200-day moving average of C$12.62. The stock has a market capitalization of C$241.58 million, a price-to-earnings ratio of 15.09, a P/E/G ratio of 3.28 and a beta of 0.89. The company has a current ratio of 1.72, a quick ratio of 1.64 and a debt-to-equity ratio of 64.88. Polaris Renewable Energy has a 1 year low of C$11.08 and a 1 year high of C$15.77.

Polaris Renewable Energy (TSE:PIF) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.13 by C($0.03). The business had revenue of C$25.53 million during the quarter, compared to analysts’ expectations of C$27.11 million. Polaris Renewable Energy had a return on equity of 4.37% and a net margin of 14.96%. As a group, analysts expect that Polaris Renewable Energy will post 0.5694106 EPS for the current fiscal year.

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.