Northland Power (TSE:NPI) PT Lowered to C$29.00 at CIBC

Northland Power (TSE:NPI) had its price target reduced by stock analysts at CIBC from C$30.00 to C$29.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the solar energy provider’s stock. CIBC’s price target would suggest a potential upside of 39.76% from the stock’s previous close.

Several other brokerages have also recently issued reports on NPI. Raymond James reduced their price target on shares of Northland Power from C$35.00 to C$32.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 23rd. BMO Capital Markets reduced their price target on 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 raised their price objective on Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$32.13.

Northland Power Trading Down 1.1 %

NPI stock traded down C$0.24 during midday trading on Friday, hitting C$20.75. The company had a trading volume of 642,500 shares, compared to its average volume of 998,154. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58. Northland Power has a 52 week low of C$19.36 and a 52 week high of C$34.14. The stock’s 50 day moving average price is C$22.77 and its 200 day moving average price is C$22.81. The stock has a market cap of C$5.30 billion, a price-to-earnings ratio of -28.82, a PEG ratio of 0.71 and a beta of 0.45.

Northland Power (TSE:NPI) last issued its quarterly earnings data on Wednesday, February 21st. The solar energy provider reported C($0.49) EPS for the quarter, missing the consensus estimate of C$0.43 by C($0.92). Northland Power had a negative net margin of 7.85% and a negative return on equity of 2.09%. The firm had revenue of C$626.22 million for the quarter, compared to the consensus estimate of C$614.15 million. As a group, equities research analysts expect that Northland Power will post 1.1793651 earnings per share for the current fiscal year.

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.