Innergex Renewable Energy (TSE:INE) Given New C$21.00 Price Target at CIBC

Innergex Renewable Energy (TSE:INE) had its price objective trimmed by CIBC from C$22.50 to C$21.00 in a research report report published on Tuesday, BayStreet.CA reports.

Several other brokerages have also recently weighed in on INE. Desjardins decreased their price objective on shares of Innergex Renewable Energy from C$23.00 to C$21.00 and set an outperform rating on the stock in a research note on Friday, November 12th. National Bank Financial reaffirmed an outperform rating on shares of Innergex Renewable Energy in a research note on Friday, September 17th. Credit Suisse Group reaffirmed a buy rating and set a C$26.00 price objective on shares of Innergex Renewable Energy in a research note on Thursday, September 16th. Royal Bank of Canada decreased their price target on shares of Innergex Renewable Energy from C$24.00 to C$23.00 and set a sector perform rating on the stock in a research note on Friday, November 12th. Finally, TD Securities decreased their price target on shares of Innergex Renewable Energy from C$24.00 to C$23.00 and set a buy rating on the stock in a research note on Friday, November 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Innergex Renewable Energy has an average rating of Buy and an average target price of C$24.84.

TSE INE opened at C$17.03 on Tuesday. The stock has a market cap of C$3.28 billion and a P/E ratio of -16.39. The company’s 50-day simple moving average is C$18.72 and its 200 day simple moving average is C$20.10. Innergex Renewable Energy has a twelve month low of C$16.91 and a twelve month high of C$31.90. The company has a quick ratio of 0.43, a current ratio of 0.55 and a debt-to-equity ratio of 407.83.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Tuesday, November 9th. The company reported C$0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.13 by C($0.08). The business had revenue of C$184.56 million for the quarter, compared to analysts’ expectations of C$178.70 million. Research analysts anticipate that Innergex Renewable Energy will post 0.35 earnings per share for the current year.

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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Generation, Wind Power Generation, and Solar Power Generation.

Recommended Story: Correction

Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

Receive News & Ratings for Innergex Renewable Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innergex Renewable Energy and related companies with MarketBeat.com's FREE daily email newsletter.