Analysts Issue Forecasts for TSE:INE Q3 Earnings

Innergex Renewable Energy Inc. (TSE:INE) – Cormark issued their Q3 2024 earnings estimates for Innergex Renewable Energy in a report issued on Monday, October 21st. Cormark analyst N. Boychuk forecasts that the company will post earnings of ($0.01) per share for the quarter. Cormark currently has a “Hold” rating on the stock. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.15 per share.

Several other analysts have also recently issued reports on INE. BMO Capital Markets upped their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Cibc World Mkts upgraded shares of Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. CIBC boosted their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a report on Monday, July 22nd. TD Securities downgraded shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target for the company. in a report on Friday, July 26th. Finally, National Bankshares lifted 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 report on Thursday, July 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Innergex Renewable Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$12.56.

Innergex Renewable Energy Price Performance

Shares of Innergex Renewable Energy stock opened at C$9.85 on Wednesday. The firm has a market cap of C$2.00 billion, a PE ratio of -15.15, a PEG ratio of 20.61 and a beta of 0.36. The stock has a 50 day moving average of C$9.68 and a 200 day moving average of C$9.46. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$10.96.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The company had revenue of C$239.51 million for the quarter, compared to the consensus estimate of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%.

Innergex Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.65%. Innergex Renewable Energy’s dividend payout ratio is -55.38%.

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.