Innergex Renewable Energy Inc. (TSE:INE) Receives C$18.14 Average Target Price from Analysts

Posted by Defense World Staff on Sep 11th, 2023

Innergex Renewable Energy Inc. (TSE:INE – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$18.08.

INE has been the subject of several research analyst reports. National Bankshares dropped their price target on shares of Innergex Renewable Energy from C$19.00 to C$18.00 in a research report on Thursday, August 10th. Scotiabank reduced their target price on Innergex Renewable Energy from C$19.25 to C$17.25 in a research note on Wednesday, June 28th. BMO Capital Markets lowered their price objective on Innergex Renewable Energy from C$18.00 to C$17.50 and set an “outperform” rating for the company in a report on Friday. Finally, CIBC decreased their target price on Innergex Renewable Energy from C$16.00 to C$15.00 in a research report on Thursday, August 10th.

Check Out Our Latest Analysis on INE

Innergex Renewable Energy Trading Down 0.1 %

INE opened at C$12.34 on Friday. Innergex Renewable Energy has a 52 week low of C$11.85 and a 52 week high of C$20.46. The firm has a market cap of C$2.52 billion, a P/E ratio of -123.40, a P/E/G ratio of 20.61 and a beta of 0.31. The company has a quick ratio of 0.58, a current ratio of 0.99 and a debt-to-equity ratio of 437.28. The business has a fifty day simple moving average of C$12.78 and a 200-day simple moving average of C$13.59.

Innergex Renewable Energy (TSE:INE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.04). The company had revenue of C$251.91 million during the quarter, compared to analysts’ expectations of C$260.00 million. Innergex Renewable Energy had a negative net margin of 1.71% and a negative return on equity of 1.35%. On average, equities analysts expect that Innergex Renewable Energy will post 0.2828028 earnings per share for the current year.

Innergex Renewable Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Thursday, September 28th. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -720.00%.

About Innergex Renewable Energy

(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.