Insider Selling: Polaris Renewable Energy (TSE:PIF) Director Sells C$119,000.00 in Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan sold 10,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of C$11.90, for a total transaction of C$119,000.00. Following the completion of the sale, the director directly owned 508,501 shares of the company’s stock, valued at approximately C$6,051,161.90. This trade represents a 1.93% decrease in their ownership of the stock.

Marc Murnaghan also recently made the following trade(s):

• On Friday, March 20th, Marc Murnaghan bought 5,000 shares of Polaris Renewable Energy stock. The shares were acquired at an average cost of C$12.14 per share, for a total transaction of C$60,700.00.

Polaris Renewable Energy Stock Performance

TSE:PIF opened at C$12.28 on Monday. Polaris Renewable Energy Inc. has a one year low of C$10.70 and a one year high of C$14.20. The company has a debt-to-equity ratio of 91.31, a quick ratio of 1.64 and a current ratio of 5.25. The firm has a market cap of C$256.59 million, a P/E ratio of -94.46, a P/E/G ratio of 3.28 and a beta of 0.51. The firm has a 50-day simple moving average of C$12.19 and a 200-day simple moving average of C$12.54.

Polaris Renewable Energy (TSE:PIF) last announced its quarterly earnings results on Thursday, February 19th. The company reported C$0.39 earnings per share for the quarter. Polaris Renewable Energy had a negative net margin of 3.29% and a negative return on equity of 1.09%. The firm had revenue of C$25.57 million during the quarter. Equities analysts anticipate that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.9%. Polaris Renewable Energy’s dividend payout ratio is currently -461.54%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Raymond James Financial cut their price target on Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating on the stock in a report on Friday, February 20th. National Bank Financial upped their price objective on Polaris Renewable Energy from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$19.63.

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.