Pinnacle Renewable (TSE:PL) Given New C$14.00 Price Target at CIBC

Pinnacle Renewable (TSE:PL) had its price objective lowered by CIBC from C$14.50 to C$14.00 in a research note released on Wednesday, BayStreet.CA reports.

Separately, Royal Bank of Canada decreased their price objective on Pinnacle Renewable from C$16.00 to C$15.00 and set an outperform rating for the company in a research report on Friday, May 10th.

TSE:PL opened at C$10.51 on Wednesday. The company has a debt-to-equity ratio of 171.27, a current ratio of 1.11 and a quick ratio of 0.56. Pinnacle Renewable has a 1-year low of C$8.53 and a 1-year high of C$17.00. The firm has a market cap of $349.98 million and a price-to-earnings ratio of 44.16. The company has a fifty day moving average of C$9.88.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, August 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 5.71%. Pinnacle Renewable’s payout ratio is presently 163.87%.

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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