Innergex Renewable Energy (TSE:INE) Sets New 1-Year Low - What's Next?

Shares of Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as C$7.02 and last traded at C$7.03, with a volume of 783743 shares traded. The stock had previously closed at C$7.28.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on INE shares. Cormark reduced their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. CIBC dropped their price objective on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Finally, Scotiabank decreased their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Innergex Renewable Energy has an average rating of "Moderate Buy" and a consensus price target of C$11.94.

Innergex Renewable Energy Trading Down 1.8 %

The firm has a 50-day simple moving average of C$7.99 and a 200-day simple moving average of C$8.96. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. The stock has a market cap of C$1.44 billion, a PE ratio of -10.89, a P/E/G ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.03 by C$0.02. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. During the same quarter in the previous year, the business posted $0.03 EPS. Equities analysts forecast that Innergex Renewable Energy Inc. will post 0.1549878 earnings per share for the current year.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada's best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.