Raymond James Has Pessimistic View of TSE:INE Q1 Earnings

Innergex Renewable Energy Inc. (TSE:INE - Free Report) - Raymond James decreased their Q1 2025 earnings estimates for Innergex Renewable Energy in a report issued on Tuesday, April 29th. Raymond James analyst T. Genzebu now anticipates that the company will post earnings per share of ($0.11) for the quarter, down from their prior forecast of ($0.09). Raymond James currently 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 brokerages have also commented on INE. Cormark dropped their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Desjardins cut Innergex Renewable Energy from a "buy" rating to a "tender" rating and lowered their target price for the stock from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. Scotiabank reduced their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. National Bankshares lowered shares of Innergex Renewable Energy from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Finally, TD Securities increased their target price on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Innergex Renewable Energy has a consensus rating of "Hold" and a consensus price target of C$11.59.

Innergex Renewable Energy Price Performance

Innergex Renewable Energy stock opened at C$13.59 on Friday. Innergex Renewable Energy has a 52 week low of C$6.98 and a 52 week high of C$13.63. The company's 50 day moving average price is C$13.51 and its two-hundred day moving average price is C$10.14. The stock has a market cap of C$2.79 billion, a P/E ratio of -21.80, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44.

Innergex Renewable Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.09 per share. The ex-dividend date was Monday, March 31st. This represents a $0.36 annualized dividend and a yield of 2.65%. Innergex Renewable Energy's payout ratio is currently -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.

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