Innergex Renewable Energy (INE) Set to Announce Earnings on Wednesday

Innergex Renewable Energy (TSE:INE - Get Free Report) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of C($0.02) per share for the quarter.

Innergex Renewable Energy (TSE:INE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, beating 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 company had revenue of C$261.53 million for the quarter, compared to analyst estimates of C$264.85 million.

Innergex Renewable Energy Trading Up 2.4 %

Shares of TSE:INE traded up C$0.19 during trading on Wednesday, reaching C$8.22. The stock had a trading volume of 1,323,531 shares, compared to its average volume of 778,712. The firm's fifty day moving average is C$8.08 and its 200 day moving average is C$8.70. The company has a debt-to-equity ratio of 544.43, a quick ratio of 0.58 and a current ratio of 0.92. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$14.40. The stock has a market cap of C$1.68 billion, a price-to-earnings ratio of -16.04, a P/E/G ratio of 20.61 and a beta of 0.35.

Innergex Renewable Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Wednesday, March 27th. Innergex Renewable Energy's dividend payout ratio is presently -70.59%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INE. TD Securities cut their target price on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a "buy" rating on the stock in a research note on Wednesday, February 14th. Desjardins cut their target price on shares of Innergex Renewable Energy from C$14.00 to C$13.00 and set a "buy" rating on the stock in a research note on Tuesday. CIBC increased 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 research note on Friday, February 23rd. Raymond James cut their target price on shares of Innergex Renewable Energy from C$15.00 to C$13.00 and set an "outperform" rating on the stock in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada lowered their price objective on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a "sector perform" rating on the stock in a report on Monday, February 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$12.47.

Insiders Place Their Bets

In other news, Senior Officer Jean Trudel bought 13,000 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average price of C$7.68 per share, for a total transaction of C$99,840.00. In other news, Senior Officer Jean Trudel purchased 13,000 shares of the company'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, with a total value of C$99,840.00. Also, Director Daniel Lafrance purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of C$8.35 per share, for a total transaction of C$41,750.00. Over the last 90 days, insiders have acquired 22,125 shares of company stock worth $174,975. Insiders own 20.41% of the company's stock.

About Innergex Renewable Energy

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.