Q2 2022 EPS Estimates for Innergex Renewable Energy Inc. (TSE:INE) Decreased by Raymond James

Innergex Renewable Energy Inc. (TSE:INEGet Rating) – Raymond James reduced their Q2 2022 earnings per share estimates for Innergex Renewable Energy in a research note issued on Wednesday, May 11th. Raymond James analyst D. Quezada now expects that the company will post earnings of $0.08 per share for the quarter, down from their prior forecast of $0.11. Raymond James currently has a “Outperform” rating and a $24.00 price target on the stock. Raymond James also issued estimates for Innergex Renewable Energy’s Q4 2022 earnings at $0.08 EPS and FY2023 earnings at $0.35 EPS.

A number of other research analysts also recently issued reports on the company. CSFB boosted their price target on Innergex Renewable Energy from C$24.00 to C$25.00 in a report on Wednesday, April 20th. TD Securities raised Innergex Renewable Energy from a “hold” rating to a “buy” rating and decreased their price target for the company from C$21.00 to C$19.00 in a report on Thursday. Scotiabank decreased their price target on Innergex Renewable Energy from C$26.50 to C$20.25 in a report on Thursday, January 27th. Finally, Credit Suisse Group boosted their price target on Innergex Renewable Energy from C$24.00 to C$25.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$23.48.

Shares of TSE INE opened at C$17.04 on Thursday. The business’s 50 day moving average price is C$18.60 and its 200 day moving average price is C$18.55. The firm has a market cap of C$3.48 billion and a P/E ratio of -15.60. Innergex Renewable Energy has a 52 week low of C$15.89 and a 52 week high of C$23.09. The company has a quick ratio of 0.38, a current ratio of 0.53 and a debt-to-equity ratio of 373.46.

Innergex Renewable Energy (TSE:INEGet Rating) last issued its earnings results on Wednesday, February 23rd. The company reported C($0.06) EPS for the quarter. The company had revenue of C$202.39 million during the quarter.

In other news, Director Richard Gagnon acquired 1,520 shares of Innergex Renewable Energy stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of C$16.46 per share, with a total value of C$25,019.20. Following the purchase, the director now owns 5,170 shares in the company, valued at C$85,098.20.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, June 29th. Innergex Renewable Energy’s dividend payout ratio is currently -65.93%.

About Innergex Renewable Energy (Get Rating)

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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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