What is Cormark's Forecast for TSE:INE Q3 Earnings?

Innergex Renewable Energy Inc. (TSE:INE - Free Report) - Investment analysts at Cormark issued their Q3 2024 EPS estimates for shares of Innergex Renewable Energy in a report released on Monday, October 21st. Cormark analyst N. Boychuk forecasts that the company will post earnings of ($0.01) per share for the quarter. Cormark has a "Hold" rating on the stock. The consensus estimate for Innergex Renewable Energy's current full-year earnings is $0.15 per share.

Innergex Renewable Energy (TSE:INE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.01). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The company had revenue of C$239.51 million during the quarter, compared to analysts' expectations of C$256.60 million.

Several other analysts also recently commented on INE. BMO Capital Markets increased their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. National Bankshares upped their price objective on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research note on Thursday, July 4th. CIBC raised their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a "neutral" rating in a report on Monday, July 22nd. Cibc World Mkts raised shares of Innergex Renewable Energy to a "hold" rating in a research report on Monday, July 22nd. Finally, TD Securities cut shares of Innergex Renewable Energy from a "buy" rating to a "hold" rating and set a C$10.00 price target on the stock. in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$12.56.

Innergex Renewable Energy Stock Down 1.3 %

Innergex Renewable Energy stock traded down C$0.13 during trading on Wednesday, hitting C$9.72. 377,656 shares of the company were exchanged, compared to its average volume of 656,775. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. The business's 50 day moving average is C$9.68 and its 200 day moving average is C$9.46. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$10.96. The company has a market capitalization of C$1.97 billion, a P/E ratio of -14.95, a PEG ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.70%. The ex-dividend date was Friday, September 27th. Innergex Renewable Energy's dividend payout ratio is presently -55.38%.

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 renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.