Innergex Renewable Energy (INE) Scheduled to Post Earnings on Wednesday

Innergex Renewable Energy (TSE:INE) is set to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect Innergex Renewable Energy to post earnings of C($0.02) per share for the quarter.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.01. The firm had revenue of C$261.53 million for the quarter, compared to analyst estimates of C$264.85 million. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%.

Innergex Renewable Energy Price Performance

Shares of INE opened at C$8.03 on Wednesday. The firm has a market cap of C$1.64 billion, a PE ratio of -15.75, a PEG ratio of 20.61 and a beta of 0.35. The firm’s 50 day moving average price is C$8.07 and its 200 day moving average price is C$8.71. The company has a debt-to-equity ratio of 544.43, a quick ratio of 0.58 and a current ratio of 0.92. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$14.40.

Innergex Renewable Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Wednesday, March 27th. Innergex Renewable Energy’s dividend payout ratio is -70.59%.

Insider Transactions at Innergex Renewable Energy

In related news, Director Richard Gagnon acquired 3,125 shares of the stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of C$8.13 per share, for a total transaction of C$25,408.75. In other Innergex Renewable Energy news, Director Richard Gagnon purchased 3,125 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of C$8.13 per share, for a total transaction of C$25,408.75. Also, Director Daniel Lafrance purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average price of C$8.35 per share, for a total transaction of C$41,750.00. Over the last quarter, insiders have purchased 22,125 shares of company stock worth $174,975. Insiders own 20.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INE shares. Royal Bank of Canada dropped their price target on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a research report on Monday, February 12th. Desjardins dropped their price target on shares of Innergex Renewable Energy from C$14.00 to C$13.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Securities dropped their price target on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. National Bankshares raised their price objective on shares of Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Finally, Raymond James lowered their price objective on shares of Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Innergex Renewable Energy has a consensus rating of “Moderate Buy” and an average price target of C$12.47.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.