Innergex Renewable Energy Inc (TSE:INE) – Research analysts at National Bank Financial decreased their Q3 2019 earnings per share estimates for shares of Innergex Renewable Energy in a research report issued 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 estimate of $0.61. National Bank Financial has a “Outperform” rating and a $18.50 price objective 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.
Innergex Renewable Energy (TSE:INE) last released its earnings results on Tuesday, May 14th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.03) by C($0.09). The business had revenue of C$126.42 million during the quarter, compared to analysts’ expectations of C$128.00 million.
A number of other equities analysts also recently commented on INE. Raymond James set a C$17.00 price objective on shares of Innergex Renewable Energy and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Desjardins restated an “average” rating and set a C$15.50 price objective on shares of Innergex Renewable Energy in a research note on Wednesday, April 24th. Finally, TD Securities downgraded shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$15.00 to C$16.00 in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Innergex Renewable Energy has an average rating of “Hold” and a consensus price target of C$15.86.
Innergex Renewable Energy stock opened at C$14.16 on Friday. Innergex Renewable Energy has a one year low of C$11.66 and a one year high of C$14.75. The company has a debt-to-equity ratio of 534.40, a current ratio of 1.09 and a quick ratio of 0.17. The stock has a market cap of $1.87 billion and a PE ratio of 70.45.
In other news, Director Daniel Lafrance bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of C$13.82 per share, for a total transaction of C$27,640.00. Following the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately C$483,700.
The company also recently announced 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. The ex-dividend date is Thursday, June 27th. This represents a $0.70 annualized dividend and a yield of 4.94%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently 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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