Innergex Renewable Energy Inc. Forecasted to Post Q3 2022 Earnings of $0.11 Per Share (TSE:INE)

Innergex Renewable Energy Inc. (TSE:INE) – Raymond James decreased their Q3 2022 earnings per share (EPS) estimates for shares of Innergex Renewable Energy in a research report issued to clients and investors on Thursday, September 16th. Raymond James analyst D. Quezada now anticipates that the company will earn $0.11 per share for the quarter, down from their prior forecast of $0.12. Raymond James has a “Outperform” rating and a $26.75 price objective on the stock.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated a “hold” rating and set a C$24.00 price target on shares of Innergex Renewable Energy in a research note on Thursday. CIBC reiterated a “neutral” rating and issued a C$23.00 target price on shares of Innergex Renewable Energy in a research note on Thursday. National Bankshares lifted their target price on Innergex Renewable Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday. Credit Suisse Group reiterated a “buy” rating and issued a C$26.00 target price on shares of Innergex Renewable Energy in a research note on Thursday. Finally, Scotiabank lifted their target price on Innergex Renewable Energy from C$23.50 to C$26.50 in a research note on Tuesday, September 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$25.63.

TSE:INE opened at C$21.56 on Friday. The stock’s 50 day moving average price is C$20.70 and its 200 day moving average price is C$21.22. The company has a market capitalization of C$4.16 billion and a PE ratio of -24.17. The company has a quick ratio of 0.48, a current ratio of 0.61 and a debt-to-equity ratio of 574.10. Innergex Renewable Energy has a 52-week low of C$18.37 and a 52-week high of C$32.48.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, October 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 28th. This represents a $0.72 annualized dividend and a yield of 3.34%. Innergex Renewable Energy’s dividend payout ratio is presently -80.72%.

Innergex Renewable Energy Company Profile

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 Generation, Wind Power Generation, and Solar Power Generation.

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Earnings History and Estimates for Innergex Renewable Energy (TSE:INE)

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