Atb Cap Markets Comments on Northland Power Inc.’s Q1 2024 Earnings (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Research analysts at Atb Cap Markets upped their Q1 2024 earnings per share estimates for Northland Power in a note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the solar energy provider will post earnings of $0.54 per share for the quarter, up from their previous estimate of $0.52. The consensus estimate for Northland Power’s current full-year earnings is $1.18 per share. Atb Cap Markets also issued estimates for Northland Power’s FY2024 earnings at $1.27 EPS.

Northland Power (TSE:NPI) last announced its quarterly earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) earnings per share for the quarter, missing the consensus estimate of C$0.43 by C($0.92). The company had revenue of C$626.22 million during the quarter, compared to analysts’ expectations of C$614.15 million. Northland Power had a negative net margin of 7.85% and a negative return on equity of 2.09%.

A number of other brokerages have also weighed in on NPI. CIBC decreased their target price on Northland Power from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Raymond James lowered Northland Power from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from C$32.00 to C$30.00 in a report on Thursday. BMO Capital Markets lowered their target price on shares of Northland Power from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Finally, National Bankshares boosted their price target on shares of Northland Power from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$31.96.

Northland Power Price Performance

Shares of TSE NPI opened at C$20.50 on Friday. The stock has a market cap of C$5.24 billion, a PE ratio of -28.47, a price-to-earnings-growth ratio of 0.71 and a beta of 0.45. Northland Power has a fifty-two week low of C$19.36 and a fifty-two week high of C$33.80. The company has a debt-to-equity ratio of 165.58, a quick ratio of 1.23 and a current ratio of 1.13. The stock has a fifty day moving average of C$22.47 and a 200-day moving average of C$22.79.

Northland Power Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.85%. The ex-dividend date is Monday, April 29th. Northland Power’s dividend payout ratio is currently -166.67%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.