Raymond James Issues Negative Outlook for TSE:INE Earnings

Innergex Renewable Energy Inc. (TSE:INE - Free Report) - Stock analysts at Raymond James cut their Q1 2025 earnings per share estimates for Innergex Renewable Energy in a research report issued to clients and investors on Tuesday, April 29th. Raymond James analyst T. Genzebu now anticipates that the company will earn ($0.11) per share for the quarter, down from their previous estimate of ($0.09). Raymond James has a "Market Perform" rating and a $13.75 price target on the stock. The consensus estimate for Innergex Renewable Energy's current full-year earnings is $0.15 per share.

A number of other equities research analysts also recently issued reports on the stock. TD Securities upped their price objective on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Desjardins downgraded Innergex Renewable Energy from a "buy" rating to a "tender" rating and decreased their price target for the company from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. National Bank Financial cut Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Scotiabank lowered their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th. Finally, Cormark decreased their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Innergex Renewable Energy presently has a consensus rating of "Hold" and a consensus price target of C$11.59.

Innergex Renewable Energy Stock Up 0.1 %

Shares of INE stock traded up C$0.01 on Friday, hitting C$13.56. The stock had a trading volume of 120,563 shares, compared to its average volume of 1,146,954. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The business has a 50 day moving average of C$13.52 and a 200 day moving average of C$10.22. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$13.63. The stock has a market cap of C$2.78 billion, a price-to-earnings ratio of -21.75, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Monday, March 31st. Innergex Renewable Energy's dividend payout ratio (DPR) is presently -57.74%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada's best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.