Cormark Has Bearish Estimate for TSE:INE FY2025 Earnings

Innergex Renewable Energy Inc. (TSE:INE) – Stock analysts at Cormark reduced their FY2025 earnings per share estimates for Innergex Renewable Energy in a report issued on Thursday, January 23rd. Cormark analyst N. Boychuk now expects that the company will earn $0.19 per share for the year, down from their previous estimate of $0.22. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.15 per share.

INE has been the topic of several other reports. CIBC decreased their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Scotiabank decreased their target price on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.38.

Innergex Renewable Energy Stock Performance

Shares of INE opened at C$7.60 on Friday. Innergex Renewable Energy has a 52-week low of C$7.05 and a 52-week high of C$10.96. The stock’s 50-day simple moving average is C$8.27 and its 200 day simple moving average is C$9.20. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The stock has a market capitalization of C$1.54 billion, a price-to-earnings ratio of -11.69, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE) last issued its earnings results on Wednesday, November 6th. The company reported C$0.05 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.02. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. During the same quarter last year, the firm earned $0.03 earnings per share.

Innergex Renewable Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

Innergex Renewable Energy Company Profile

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.