Raymond James Financial Has Lowered Expectations for Polaris Renewable Energy (TSE:PIF) Stock Price

Polaris Renewable Energy (TSE:PIF) had its price target lowered by equities researchers at Raymond James Financial from C$20.00 to C$18.25 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 49.84% from the stock’s previous close.

Separately, National Bank Financial lifted their price objective on shares of Polaris Renewable Energy from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Polaris Renewable Energy currently has a consensus rating of “Buy” and an average target price of C$19.63.

Polaris Renewable Energy Stock Performance

PIF traded up C$0.18 during trading on Friday, hitting C$12.18. 60,376 shares of the stock were exchanged, compared to its average volume of 40,296. The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 57.48. Polaris Renewable Energy has a 1-year low of C$10.70 and a 1-year high of C$14.20. The stock has a fifty day moving average price of C$12.16 and a two-hundred day moving average price of C$12.62. The firm has a market capitalization of C$255.59 million, a P/E ratio of -22.56, a PEG ratio of 3.28 and a beta of 0.60.

Polaris Renewable Energy (TSE:PIF) last announced its earnings results on Thursday, February 19th. The company reported C$0.39 earnings per share (EPS) for the quarter. The business had revenue of C$25.57 million for the quarter. Polaris Renewable Energy had a net margin of 9.49% and a return on equity of 2.68%. As a group, sell-side analysts predict that Polaris Renewable Energy will post 0.6481187 earnings per share for the current year.

About Polaris Renewable Energy

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.