Innergex Renewable Energy Inc. (TSE:INE - Free Report) - Analysts at National Bank Financial dropped their Q3 2024 EPS estimates for Innergex Renewable Energy in a research report issued to clients and investors on Monday, April 8th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of $0.07 for the quarter, down from their prior estimate of $0.08. The consensus estimate for Innergex Renewable Energy's current full-year earnings is $0.12 per share. National Bank Financial also issued estimates for Innergex Renewable Energy's Q4 2024 earnings at $0.07 EPS.
Innergex Renewable Energy (TSE:INE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, topping analysts' consensus estimates of C($0.04) by C$0.01. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%. The business had revenue of C$261.53 million for the quarter, compared to analyst estimates of C$264.85 million.
A number of other research analysts also recently commented on INE. Desjardins decreased their price objective on shares of Innergex Renewable Energy from C$14.50 to C$14.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. TD Securities decreased their price objective on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a "buy" rating for the company in a research report on Wednesday, February 14th. CIBC lifted their target price on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a "neutral" rating in a report on Friday, February 23rd. National Bankshares lifted their target price on shares of Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an "outperform" rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada cut their price objective on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a "sector perform" rating for the company in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Innergex Renewable Energy has a consensus rating of "Moderate Buy" and a consensus price target of C$13.36.
View Our Latest Stock Report on INE
Innergex Renewable Energy Stock Down 1.7 %
INE stock traded down C$0.14 during midday trading on Wednesday, hitting C$8.09. The company's stock had a trading volume of 577,183 shares, compared to its average volume of 807,311. The company has a debt-to-equity ratio of 544.43, a current ratio of 0.92 and a quick ratio of 0.58. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$15.23. The company's fifty day moving average price is C$8.09 and its 200 day moving average price is C$8.92. The stock has a market capitalization of C$1.65 billion, a P/E ratio of -15.86, a PEG ratio of 20.61 and a beta of 0.37.
Innergex Renewable Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Wednesday, March 27th. Innergex Renewable Energy's dividend payout ratio is currently -70.59%.
Insider Activity
In other news, Senior Officer Jean Trudel acquired 13,000 shares of Innergex Renewable Energy stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of C$7.68 per share, with a total value of C$99,840.00. In related news, Director Daniel Lafrance bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of C$8.35 per share, with a total value of C$41,750.00. Also, Senior Officer Jean Trudel bought 13,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of C$7.68 per share, for a total transaction of C$99,840.00. In the last three months, insiders have bought 22,125 shares of company stock valued at $174,975. 24.06% of the stock is currently owned by insiders.
Innergex Renewable Energy Company Profile
(
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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.
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