Innergex Renewable Energy (INE) Scheduled to Post Earnings on Wednesday

Innergex Renewable Energy (TSE:INE) will issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of C$0.05 per share for the quarter.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data 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 Stock Performance

Innergex Renewable Energy stock opened at C$9.09 on Wednesday. The stock has a fifty day moving average price of C$9.66 and a 200 day moving average price of C$9.51. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$10.96. The firm has a market capitalization of C$1.84 billion, a P/E ratio of -13.98, a PEG ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Announces Dividend

The business 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. The ex-dividend date was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 3.96%. Innergex Renewable Energy’s payout ratio is currently -55.38%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. CIBC increased their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets boosted their price target on Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Cormark downgraded Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price for the company. in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Innergex Renewable Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$12.56.

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.