Innergex Renewable Energy Inc. (TSE:INE – Free Report) – Equities research analysts at Cormark issued their Q2 2024 earnings per share (EPS) estimates for Innergex Renewable Energy in a research report issued to clients and investors on Tuesday, July 23rd. Cormark analyst N. Boychuk forecasts that the company will earn ($0.03) per share for the quarter. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.08 per share. Cormark also issued estimates for Innergex Renewable Energy’s FY2024 earnings at ($0.45) EPS and FY2025 earnings at ($0.13) EPS.
A number of other analysts have also weighed in on the company. CIBC increased their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Desjardins raised their price target on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. National Bankshares raised their price target on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, July 4th. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Finally, Scotiabank raised their price target on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$12.25.
Check Out Our Latest Report on Innergex Renewable Energy
Innergex Renewable Energy Stock Performance
TSE:INE opened at C$9.53 on Friday. The firm has a market cap of C$1.94 billion, a PE ratio of -14.89, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$13.34. The company has a debt-to-equity ratio of 546.12, a quick ratio of 0.58 and a current ratio of 0.74. The business has a 50 day moving average price of C$10.09 and a 200-day moving average price of C$8.95.
Innergex Renewable Energy (TSE:INE – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of C($0.11). The firm had revenue of C$242.54 million during the quarter, compared to analyst estimates of C$240.80 million. Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%.
Insider Activity
In related news, Director Patrick Loulou purchased 11,000 shares of Innergex Renewable Energy stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of C$10.25 per share, for a total transaction of C$112,750.00. Corporate insiders own 20.44% of the company’s stock.
Innergex Renewable Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 3.78%. Innergex Renewable Energy’s payout ratio is presently -56.25%.
Innergex Renewable Energy Company Profile
Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.
Further Reading
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