National Bank Financial Comments on Innergex Renewable Energy Inc’s Q2 2019 Earnings (TSE:INE)
Innergex Renewable Energy Inc (TSE:INE) – Equities research analysts at National Bank Financial raised their Q2 2019 earnings per share (EPS) estimates for shares of Innergex Renewable Energy in a note issued to investors on Tuesday, June 11th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings per share of $0.16 for the quarter, up from their previous forecast of $0.14. National Bank Financial has a “Outperform” rating and a $18.50 price target on the stock. National Bank Financial also issued estimates for Innergex Renewable Energy’s FY2020 earnings at $0.64 EPS.
Innergex Renewable Energy (TSE:INE) last released its quarterly earnings data on Tuesday, May 14th. The company reported C($0.12) EPS for the quarter, missing the consensus estimate of C($0.03) by C($0.09). The company had revenue of C$126.42 million for the quarter, compared to analyst estimates of C$128.00 million.
Innergex Renewable Energy stock opened at C$14.16 on Thursday. Innergex Renewable Energy has a 52 week low of C$11.66 and a 52 week high of C$14.75. The company has a debt-to-equity ratio of 534.40, a quick ratio of 0.17 and a current ratio of 1.09. The stock has a market capitalization of $1.87 billion and a P/E ratio of 70.45.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Thursday, June 27th. Innergex Renewable Energy’s payout ratio is 340.80%.
In other news, Director Daniel Lafrance bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of C$13.82 per share, with a total value of C$27,640.00. Following the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately C$483,700.
Innergex Renewable Energy Company Profile
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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