Cormark Expects Lower Earnings for Innergex Renewable Energy

Innergex Renewable Energy Inc. (TSE:INE) – Research analysts at Cormark lowered their FY2025 earnings estimates for Innergex Renewable Energy in a report released on Thursday, January 23rd. Cormark analyst N. Boychuk now anticipates that the company will post earnings of $0.19 per share for the year, down from their previous forecast of $0.22. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.15 per share.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$0.05 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.03 EPS.

INE has been the subject of a number of other reports. CIBC reduced their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Scotiabank decreased their price objective on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$12.38.

Innergex Renewable Energy Price Performance

Shares of TSE:INE opened at C$7.61 on Friday. The company has a market capitalization of C$1.54 billion, a PE ratio of -11.71, a PEG ratio of 20.61 and a beta of 0.36. The business has a fifty day moving average price of C$8.25 and a 200-day moving average price of C$9.19. Innergex Renewable Energy has a 1-year low of C$7.05 and a 1-year high of C$10.96. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58.

Innergex Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.09 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 4.73%. Innergex Renewable Energy’s payout ratio is -55.38%.

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.