Cormark Weighs in on Altius Renewable Royalties Corp.’s Q1 2024 Earnings (TSE:ARR)

Altius Renewable Royalties Corp. (TSE:ARR) – Stock analysts at Cormark issued their Q1 2024 earnings per share (EPS) estimates for Altius Renewable Royalties in a research note issued on Wednesday, May 1st. Cormark analyst N. Boychuk anticipates that the company will post earnings per share of $0.07 for the quarter. The consensus estimate for Altius Renewable Royalties’ current full-year earnings is $0.05 per share. Cormark also issued estimates for Altius Renewable Royalties’ FY2024 earnings at $0.36 EPS.

A number of other research firms also recently commented on ARR. National Bankshares upped their price objective on shares of Altius Renewable Royalties from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. TD Securities raised their price objective on Altius Renewable Royalties from C$11.50 to C$12.50 and gave the company a “buy” rating in a research note on Friday, March 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$11.90.

Altius Renewable Royalties Price Performance

Shares of TSE:ARR opened at C$9.27 on Thursday. Altius Renewable Royalties has a one year low of C$6.60 and a one year high of C$9.75. The stock has a market cap of C$285.42 million, a PE ratio of -185.40 and a beta of 0.96. The business’s fifty day moving average price is C$8.95 and its two-hundred day moving average price is C$8.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 102.67 and a current ratio of 209.99.

Altius Renewable Royalties (TSE:ARR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported C($0.01) EPS for the quarter, missing the consensus estimate of C$0.04 by C($0.05). The company had revenue of C$1.47 million during the quarter, compared to analyst estimates of C$1.50 million. Altius Renewable Royalties had a negative net margin of 227.79% and a negative return on equity of 0.60%.

About Altius Renewable Royalties

Altius Renewable Royalties Corp., a renewable energy royalty company, engages in the acquisition and management of renewable energy investments and royalties in North America. The company holds interests in a portfolio of 2,068 MW of operational wind, solar, and hydroelectric projects located in Texas, Kansas, California, and Vermont.