Innergex Renewable Energy Inc (TSE:INE) – Equities research analysts at National Bank Financial cut their Q3 2019 earnings estimates for shares of Innergex Renewable Energy in a note issued to investors on Tuesday, June 11th. National Bank Financial analyst R. Merer now expects that the company will earn $0.22 per share for the quarter, down from their previous forecast of $0.61. National Bank Financial currently has a “Outperform” rating and a $18.50 target price on the stock. National Bank Financial also issued estimates for Innergex Renewable Energy’s Q4 2019 earnings at $0.22 EPS and FY2019 earnings at $0.57 EPS.
A number of other equities analysts have also recently issued reports on the stock. TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and upped their price target for the stock from C$15.00 to C$16.00 in a research note on Friday, March 1st. Raymond James reiterated an “outperform” rating and issued a C$17.00 price target on shares of Innergex Renewable Energy in a research note on Friday, March 1st. Finally, Desjardins reiterated an “average” rating and issued a C$15.50 price target on shares of Innergex Renewable Energy in a research note on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$15.86.
TSE:INE opened at C$14.17 on Friday. The stock has a market capitalization of $1.89 billion and a PE ratio of 70.50. The company has a current ratio of 1.09, a quick ratio of 0.17 and a debt-to-equity ratio of 534.40. Innergex Renewable Energy has a 1-year low of C$11.66 and a 1-year high of C$14.75.
Innergex Renewable Energy (TSE:INE) last released its earnings results on Tuesday, May 14th. The company reported C($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.03) by C($0.09). The firm had revenue of C$126.42 million for the quarter, compared to analysts’ expectations of C$128.00 million.
In other news, Director Daniel Lafrance purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average price of C$13.82 per share, for a total transaction of C$27,640.00. Following the purchase, the director now directly owns 35,000 shares in the company, valued at approximately C$483,700.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Thursday, June 27th. Innergex Renewable Energy’s payout ratio is 340.80%.
About Innergex Renewable Energy
Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.
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