National Bank Financial Lowers Pinnacle Renewable (TSE:PL) Price Target to C$14.00

Pinnacle Renewable (TSE:PL) had its price objective trimmed by National Bank Financial from C$15.50 to C$14.00 in a research note published on Thursday, BayStreet.CA reports. The firm currently has an outperform rating on the stock. National Bank Financial also issued estimates for Pinnacle Renewable’s Q4 2019 earnings at $0.01 EPS and FY2020 earnings at $0.47 EPS.

PL has been the subject of several other reports. Royal Bank of Canada lowered their price target on Pinnacle Renewable from C$15.00 to C$13.00 and set an outperform rating for the company in a report on Wednesday, October 2nd. CIBC lowered their price target on Pinnacle Renewable from C$11.00 to C$10.00 in a report on Wednesday, October 23rd. Finally, GMP Securities increased their price target on Pinnacle Renewable from C$13.00 to C$14.00 and gave the stock a buy rating in a report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of C$13.00.

TSE PL traded up C$0.51 on Thursday, reaching C$8.47. The company had a trading volume of 85,058 shares, compared to its average volume of 47,537. The stock’s 50 day moving average is C$7.49 and its 200-day moving average is C$9.62. The stock has a market cap of $265.07 million and a price-to-earnings ratio of 71.18. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 182.22. Pinnacle Renewable has a 52 week low of C$5.98 and a 52 week high of C$13.89.

Pinnacle Renewable (TSE:PL) last released its quarterly earnings data on Monday, August 12th. The company reported C$0.06 EPS for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.05. The company had revenue of C$104.16 million during the quarter, compared to the consensus estimate of C$99.80 million. As a group, analysts forecast that Pinnacle Renewable will post 0.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.15 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.60 annualized dividend and a dividend yield of 7.08%. Pinnacle Renewable’s dividend payout ratio (DPR) is currently 378.15%.

About Pinnacle Renewable

Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, 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 (TSE:PL)

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