Pinnacle Renewable Energy Inc. (TSE:PL) Receives C$11.19 Consensus Price Target from Analysts


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Shares of Pinnacle Renewable Energy Inc. (TSE:PL) have been assigned an average recommendation of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$11.19.

A number of brokerages recently issued reports on PL. National Bankshares downgraded Pinnacle Renewable Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$12.50 to C$11.30 in a research report on Thursday, April 1st. TD Securities downgraded Pinnacle Renewable Energy from a “hold” rating to a “tender” rating and lowered their price target for the stock from C$12.50 to C$11.30 in a research report on Thursday, March 4th. CIBC raised their price target on Pinnacle Renewable Energy from C$10.00 to C$12.00 in a research report on Wednesday, January 13th. Cormark downgraded Pinnacle Renewable Energy from a “buy” rating to a “tender” rating and lowered their price target for the stock from C$13.50 to C$11.30 in a research report on Tuesday, February 9th. Finally, BMO Capital Markets lifted their target price on Pinnacle Renewable Energy from C$9.00 to C$11.30 in a research report on Tuesday, February 9th.

Shares of PL opened at C$11.30 on Monday. The company has a debt-to-equity ratio of 231.46, a current ratio of 0.88 and a quick ratio of 0.41. Pinnacle Renewable Energy has a 1 year low of C$3.63 and a 1 year high of C$11.32. The company has a 50 day simple moving average of C$11.10 and a two-hundred day simple moving average of C$9.00. The firm has a market cap of C$376.97 million and a P/E ratio of -74.83.

Pinnacle Renewable Energy (TSE:PL) last posted its earnings results on Wednesday, February 24th. The company reported C($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.10). The company had revenue of C$116.91 million for the quarter, compared to analysts’ expectations of C$129.08 million. On average, sell-side analysts anticipate that Pinnacle Renewable Energy will post 0.47 earnings per share for the current year.

Pinnacle Renewable Energy Company Profile

Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets for industrial electrical power generation and home heating consumption in North America, Asia, and Europe. The company produces renewable fuel in the form of industrial wood pellets for electricity generation, which are used by utilities and large-scale power generators to produce renewable and baseload power.

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Analyst Recommendations for Pinnacle Renewable Energy (TSE:PL)

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