Q3 Earnings Forecast for TSE:INE Issued By Cormark

Innergex Renewable Energy Inc. (TSE:INE) – Analysts at Cormark issued their Q3 2024 earnings estimates for Innergex Renewable Energy in a research note issued to investors on Monday, October 21st. Cormark analyst N. Boychuk forecasts that the company will post earnings of ($0.01) per share for the quarter. Cormark currently has a “Hold” rating on the stock. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.15 per share.

Several other equities research analysts have also commented on the stock. CIBC boosted their price target on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a report on Monday, July 22nd. TD Securities lowered Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price for the company. in a report on Friday, July 26th. National Bankshares lifted their price target on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, July 4th. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets boosted their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$12.56.

Innergex Renewable Energy Stock Performance

INE stock opened at C$9.85 on Wednesday. Innergex Renewable Energy has a 1-year low of C$7.05 and a 1-year high of C$10.96. The business has a 50-day moving average price of C$9.68 and a 200 day moving average price of C$9.46. The company has a market capitalization of C$2.00 billion, a P/E ratio of -15.15, a PEG ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58.

Innergex Renewable Energy (TSE:INE) last issued its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share for the quarter, missing the consensus estimate of C($0.02) by C($0.01). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The firm had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million.

Innergex Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 3.65%. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

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.