Equities Analysts Offer Predictions for TSE:INE Q3 Earnings

Innergex Renewable Energy Inc. (TSE:INE) – Equities researchers at Cormark issued their Q3 2024 earnings estimates for Innergex Renewable Energy in a research note issued on Monday, October 21st. Cormark analyst N. Boychuk expects that the company will post earnings per share of ($0.01) 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 equities research analysts have also recently commented on the stock. CIBC boosted their price target on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price on the stock. in a report on Friday, July 26th. BMO Capital Markets upped their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Finally, National Bankshares upped their target price on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, July 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$12.56.

Innergex Renewable Energy Trading Down 1.3 %

Shares of TSE:INE opened at C$9.72 on Wednesday. The company’s 50-day moving average price is C$9.68 and its two-hundred day moving average price is C$9.46. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. Innergex Renewable Energy has a one year low of C$7.05 and a one year high of C$10.96. The stock has a market capitalization of C$1.97 billion, a PE ratio of -14.95, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings results 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). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The business had revenue of C$239.51 million for the quarter, compared to the consensus estimate of C$256.60 million.

Innergex Renewable Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

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.