Innergex Renewable Energy (TSE:INE) Given New C$10.50 Price Target at Scotiabank

Innergex Renewable Energy (TSE:INE - Get Free Report) had its target price dropped by investment analysts at Scotiabank from C$11.50 to C$10.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Scotiabank's price target points to a potential upside of 49.36% from the stock's current price.

Separately, CIBC lowered their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$11.94.

Innergex Renewable Energy Trading Down 3.4 %

TSE INE traded down C$0.25 during mid-day trading on Thursday, reaching C$7.03. 588,276 shares of the stock were exchanged, compared to its average volume of 623,407. The stock has a market cap of C$1.43 billion, a P/E ratio of -10.82, a P/E/G 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 has a one year low of C$7.02 and a one year high of C$10.96. The stock has a 50 day simple moving average of C$8.13 and a 200-day simple moving average of C$9.07.

Innergex Renewable Energy (TSE:INE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$0.05 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business posted $0.03 EPS. On average, analysts anticipate that Innergex Renewable Energy will post 0.1549878 EPS for the current year.

Innergex Renewable Energy Company Profile

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.