Equities Analysts Offer Predictions for TSE:INE Q3 Earnings

Innergex Renewable Energy Inc. (TSE:INE) – Equities researchers at Cormark issued their Q3 2024 earnings per share (EPS) estimates for shares of Innergex Renewable Energy in a research report issued on Monday, October 21st. Cormark analyst N. Boychuk anticipates that the company will earn ($0.01) per share for the quarter. Cormark currently has a “Hold” rating on the stock. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.15 per share.

Several other equities research analysts also recently issued reports on INE. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective for the company. in a research report on Friday, July 26th. CIBC upped their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets upped their target price on Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Finally, National Bankshares increased their price objective on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Thursday, July 4th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Innergex Renewable Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$12.56.

Innergex Renewable Energy Stock Down 1.3 %

Shares of INE opened at C$9.72 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. The stock’s 50 day moving average is C$9.68 and its two-hundred day moving average is C$9.46. The firm has a market cap of C$1.97 billion, a P/E ratio of -14.95, a PEG ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$10.96.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings results on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The business had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%.

Innergex Renewable Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is -55.38%.

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 renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.