Scotiabank Lowers Innergex Renewable Energy (TSE:INE) Price Target to C$10.50

Innergex Renewable Energy (TSE:INE) had its price objective dropped by stock analysts at Scotiabank from C$11.50 to C$10.50 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 44.23% from the stock’s previous close.

Separately, CIBC decreased their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Innergex Renewable Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$11.94.

Innergex Renewable Energy Stock Up 2.0 %

INE stock opened at C$7.28 on Thursday. Innergex Renewable Energy has a one year low of C$7.05 and a one year high of C$10.96. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The firm’s fifty day moving average is C$8.13 and its 200 day moving average is C$9.08. The firm has a market cap of C$1.48 billion, a PE ratio of -11.20, a P/E/G ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Wednesday, November 6th. The company reported C$0.05 EPS for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.02. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, research analysts forecast that Innergex Renewable Energy will post 0.1549878 EPS for the current year.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.