Innergex Renewable Energy (INE) Set to Announce Earnings on Wednesday

Innergex Renewable Energy (TSE:INE) will issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of C($0.02) per share for the quarter.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.01. The business had revenue of C$261.53 million for the quarter, compared to analysts’ expectations of C$264.85 million. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%.

Innergex Renewable Energy Stock Up 0.8 %

Shares of Innergex Renewable Energy stock opened at C$8.48 on Monday. Innergex Renewable Energy has a 52-week low of C$7.05 and a 52-week high of C$14.40. The stock has a market capitalization of C$1.73 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 20.61 and a beta of 0.35. The company has a 50-day simple moving average of C$8.13 and a two-hundred day simple moving average of C$8.68. The company has a debt-to-equity ratio of 544.43, a quick ratio of 0.58 and a current ratio of 0.92.

Innergex Renewable Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 4.25%. Innergex Renewable Energy’s payout ratio is -70.59%.

Insider Transactions at Innergex Renewable Energy

In other news, Director Daniel Lafrance acquired 5,000 shares of Innergex Renewable Energy stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of C$8.35 per share, with a total value of C$41,750.00. In related news, Senior Officer Jean Trudel acquired 13,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of C$7.68 per share, with a total value of C$99,840.00. Also, Director Daniel Lafrance bought 5,000 shares of Innergex Renewable Energy stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of C$8.35 per share, for a total transaction of C$41,750.00. Insiders have bought a total of 22,125 shares of company stock valued at $174,975 in the last ninety days. 20.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on INE shares. Desjardins reduced their price target on shares of Innergex Renewable Energy from C$14.00 to C$13.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. BMO Capital Markets decreased their price target on Innergex Renewable Energy from C$10.00 to C$9.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. CIBC boosted their target price on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a report on Friday, February 23rd. National Bankshares upped their price objective on Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada cut their target price on Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a research report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$12.47.

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.