Innergex Renewable Energy Inc. (TSE:INE – Free Report) – Equities research analysts at National Bank Financial decreased their Q3 2023 earnings estimates for Innergex Renewable Energy in a research note issued on Wednesday, August 9th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of ($0.08) for the quarter, down from their previous estimate of $0.17. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.25 per share. National Bank Financial also issued estimates for Innergex Renewable Energy’s Q4 2023 earnings at ($0.06) EPS, FY2023 earnings at ($0.14) EPS and FY2024 earnings at ($0.13) EPS.
A number of other equities analysts also recently issued reports on INE. CSFB decreased their price target on shares of Innergex Renewable Energy from C$20.00 to C$19.50 in a research note on Monday, April 24th. National Bankshares decreased their price objective on shares of Innergex Renewable Energy from C$19.00 to C$18.00 in a report on Thursday. CIBC reduced their price objective on Innergex Renewable Energy from C$16.00 to C$15.00 in a research report on Thursday. Finally, Scotiabank decreased their target price on Innergex Renewable Energy from C$19.25 to C$17.25 in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$18.14.
Innergex Renewable Energy Price Performance
INE stock opened at C$12.91 on Monday. The firm’s 50-day moving average price is C$12.96 and its two-hundred day moving average price is C$14.00. Innergex Renewable Energy has a 12-month low of C$11.85 and a 12-month high of C$20.46. The stock has a market capitalization of C$2.64 billion, a price-to-earnings ratio of -39.12, a PEG ratio of 20.61 and a beta of 0.31. The company has a current ratio of 0.97, a quick ratio of 0.58 and a debt-to-equity ratio of 432.38.
Innergex Renewable Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be paid a $0.18 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.72 annualized dividend and a yield of 5.58%. Innergex Renewable Energy’s dividend payout ratio (DPR) is -218.18%.
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 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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