Innergex Renewable Energy Inc. Expected to Earn Q3 2023 Earnings of $0.15 Per Share (TSE:INE)

Posted by on Jul 31st, 2023

Innergex Renewable Energy Inc. (TSE:INE – Free Report) – Investment analysts at Raymond James cut their Q3 2023 earnings per share (EPS) estimates for Innergex Renewable Energy in a research note issued on Thursday, July 27th. Raymond James analyst D. Quezada now forecasts that the company will post earnings per share of $0.15 for the quarter, down from their prior forecast of $0.18. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.25 per share. Raymond James also issued estimates for Innergex Renewable Energy’s Q4 2023 earnings at $0.07 EPS, FY2023 earnings at $0.26 EPS, Q1 2024 earnings at $0.10 EPS, Q2 2024 earnings at $0.06 EPS, Q3 2024 earnings at $0.17 EPS and Q4 2024 earnings at $0.12 EPS.

Innergex Renewable Energy (TSE:INE – Get Free Report) last issued its quarterly earnings data on Tuesday, May 9th. The company reported C($0.08) EPS for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.07). Innergex Renewable Energy had a negative return on equity of 4.72% and a negative net margin of 6.99%. The business had revenue of C$218.33 million during the quarter, compared to the consensus estimate of C$211.90 million.

Other research analysts also recently issued reports about the company. Scotiabank dropped their target price on Innergex Renewable Energy from C$19.25 to C$17.25 in a research note on Wednesday, June 28th. CSFB cut their price objective on shares of Innergex Renewable Energy from C$20.00 to C$19.50 in a report on Monday, April 24th. CIBC cut their price target on shares of Innergex Renewable Energy from C$16.50 to C$16.00 and set a “neutral” rating on the stock in a research note on Friday, July 21st. Finally, National Bankshares lowered their price objective on shares of Innergex Renewable Energy from C$20.00 to C$19.00 in a research note on Thursday, July 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.36.

Innergex Renewable Energy Trading Down 0.2 %

TSE:INE opened at C$12.69 on Monday. The stock has a market capitalization of C$2.59 billion, a price-to-earnings ratio of -38.45, a PEG ratio of 20.61 and a beta of 0.30. Innergex Renewable Energy has a 52 week low of C$12.08 and a 52 week high of C$20.46. The company has a quick ratio of 0.58, a current ratio of 0.97 and a debt-to-equity ratio of 432.38. The firm has a 50 day moving average of C$13.19 and a 200 day moving average of C$14.27.

Innergex Renewable Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.18 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.72 annualized dividend and a dividend yield of 5.67%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -218.18%.

Innergex Renewable Energy Company Profile

(Get Free Report)

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 Power Generation, Wind Power Generation, and Solar Power Generation.

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Earnings History and Estimates for Innergex Renewable Energy (TSE:INE)

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