Innergex Renewable Energy’s (INE) “Outperform” Rating Reaffirmed at Raymond James

Raymond James reiterated their outperform rating on shares of Innergex Renewable Energy (TSE:INE) in a report issued on Wednesday morning, BayStreet.CA reports. The firm currently has a C$17.50 target price on the stock. Raymond James also issued estimates for Innergex Renewable Energy’s FY2019 earnings at $0.04 EPS.

Several other equities research analysts have also recently weighed in on INE. Desjardins reiterated an average rating and set a C$15.50 price objective on shares of Innergex Renewable Energy in a research report on Wednesday, April 24th. TD Securities decreased their price objective on shares of Innergex Renewable Energy from C$16.00 to C$15.50 and set a hold rating for the company in a research report on Thursday, May 16th. Finally, BMO Capital Markets increased their price objective on shares of Innergex Renewable Energy from C$15.00 to C$16.00 in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of C$16.07.

Shares of INE traded down C$0.08 during trading hours on Wednesday, hitting C$14.83. 22,564 shares of the stock were exchanged, compared to its average volume of 256,497. Innergex Renewable Energy has a fifty-two week low of C$11.66 and a fifty-two week high of C$15.28. The company has a quick ratio of 0.17, a current ratio of 1.09 and a debt-to-equity ratio of 520.90. The business’s 50-day simple moving average is C$14.69. The company has a market capitalization of $2.03 billion and a price-to-earnings ratio of 74.18.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings data on Tuesday, May 14th. The company reported C($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.03) by C($0.09). The firm had revenue of C$126.42 million for the quarter, compared to the consensus estimate of C$128.00 million. As a group, equities analysts anticipate that Innergex Renewable Energy will post 0.42 earnings per share for the current year.

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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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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