Northland Power Inc. (TSE:NPI) to Post Q1 2024 Earnings of $0.54 Per Share, Atb Cap Markets Forecasts

Northland Power Inc. (TSE:NPI) – Stock analysts at Atb Cap Markets raised their Q1 2024 earnings per share estimates for Northland Power in a report released on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the solar energy provider will earn $0.54 per share for the quarter, up from their previous estimate of $0.52. The consensus estimate for Northland Power’s current full-year earnings is $1.18 per share. Atb Cap Markets also issued estimates for Northland Power’s FY2024 earnings at $1.27 EPS.

Northland Power (TSE:NPI) last posted its earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) EPS for the quarter, missing the consensus estimate of C$0.43 by C($0.92). The firm had revenue of C$626.22 million during the quarter, compared to the consensus estimate of C$614.15 million. Northland Power had a negative return on equity of 2.09% and a negative net margin of 7.85%.

Other analysts also recently issued reports about the stock. National Bankshares boosted their price target on shares of Northland Power from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Raymond James lowered shares of Northland Power from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from C$32.00 to C$30.00 in a research note on Thursday. CIBC cut their target price on Northland Power from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Finally, BMO Capital Markets reduced their price objective on shares of Northland Power from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$31.96.

Northland Power Stock Performance

NPI stock opened at C$20.50 on Friday. The company has a 50-day simple moving average of C$22.47 and a 200 day simple moving average of C$22.79. The company has a market capitalization of C$5.24 billion, a P/E ratio of -28.47, a PEG ratio of 0.71 and a beta of 0.45. The company has a quick ratio of 1.23, a current ratio of 1.13 and a debt-to-equity ratio of 165.58. Northland Power has a fifty-two week low of C$19.36 and a fifty-two week high of C$33.80.

Northland Power Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, April 29th. This represents a $1.20 annualized dividend and a yield of 5.85%. Northland Power’s payout ratio is presently -166.67%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.