Polaris Renewable Energy (TSE:PIF) Shares Up 2.1% – Still a Buy?

Polaris Renewable Energy Inc. (TSE:PIF)’s share price traded up 2.1% during mid-day trading on Friday. The stock traded as high as C$14.00 and last traded at C$13.85. 94,689 shares traded hands during mid-day trading, an increase of 160% from the average daily volume of 36,454 shares. The stock had previously closed at C$13.56.

Polaris Renewable Energy Stock Performance

The company has a market cap of C$289.40 million, a P/E ratio of 72.89, a PEG ratio of 3.28 and a beta of 0.53. The business’s 50 day simple moving average is C$13.80 and its 200 day simple moving average is C$13.56. The company has a current ratio of 4.75, a quick ratio of 1.64 and a debt-to-equity ratio of 93.21.

Polaris Renewable Energy (TSE:PIF) last issued its quarterly earnings results on Thursday, November 5th. The company reported C($0.48) earnings per share for the quarter. The firm had revenue of C$27.06 million for the quarter. Polaris Renewable Energy had a net margin of 5.34% and a return on equity of 1.73%. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Sell-side analysts predict that Polaris Renewable Energy Inc. will post 0.65 earnings per share for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 21st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, August 10th. Polaris Renewable Energy’s dividend payout ratio (DPR) is presently 315.79%.

Insider Buying and Selling at Polaris Renewable Energy

In other news, Director Marc Murnaghan bought 2,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of C$14.05 per share, for a total transaction of C$28,100.00. Following the purchase, the director owned 4,000 shares in the company, valued at C$56,200. This represents a 100.00% increase in their ownership of the stock. Company insiders own 2.94% of the company’s stock.

About Polaris Renewable Energy

Polaris Renewable Energy Inc is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Company’s operations include a geothermal plant (82 MW), four run-of river hydroelectric plants (39 MW), three solar (photovoltaic) projects (35 MW) and an onshore wind farm (26 MW).