Innergex Renewable Energy (TSE:INE) PT Lowered to C$12.00

Innergex Renewable Energy (TSE:INE – Get Free Report) had its price target cut by stock analysts at TD Securities from C$15.00 to C$12.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 33.93% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. CIBC reduced their price target on shares of Innergex Renewable Energy from C$16.00 to C$15.00 in a research report on Thursday, August 10th. National Bankshares reduced their price target on shares of Innergex Renewable Energy from C$18.00 to C$16.00 and set an “outperform” rating for the company in a research report on Thursday, October 12th. BMO Capital Markets reduced their price target on shares of Innergex Renewable Energy from C$18.00 to C$17.50 and set an “outperform” rating for the company in a research report on Friday, September 8th. Finally, Scotiabank reduced their price target on shares of Innergex Renewable Energy from C$19.25 to C$17.25 in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$17.08.

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Innergex Renewable Energy Stock Performance

TSE INE opened at C$8.96 on Wednesday. Innergex Renewable Energy has a 1 year low of C$8.93 and a 1 year high of C$18.05. The company has a debt-to-equity ratio of 437.28, a current ratio of 0.99 and a quick ratio of 0.58. The firm has a market cap of C$1.83 billion, a price-to-earnings ratio of -90.40, a PEG ratio of 20.61 and a beta of 0.35. The company has a fifty day moving average price of C$11.71 and a 200-day moving average price of C$12.86.

Innergex Renewable Energy (TSE:INE – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.09 by C($0.04). Innergex Renewable Energy had a negative return on equity of 1.35% and a negative net margin of 1.71%. The firm had revenue of C$251.91 million during the quarter, compared to the consensus estimate of C$260.00 million. As a group, equities research analysts predict that Innergex Renewable Energy will post 0.3799368 EPS for the current fiscal year.

About Innergex Renewable Energy

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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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