Analysts Set Expectations for Northland Power Inc.’s Q1 2024 Earnings (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Investment analysts at Cormark issued their Q1 2024 earnings per share (EPS) estimates for Northland Power in a note issued to investors on Wednesday, May 1st. Cormark analyst N. Boychuk expects that the solar energy provider will post earnings per share of $0.51 for the quarter. The consensus estimate for Northland Power’s current full-year earnings is $1.18 per share. Cormark also issued estimates for Northland Power’s FY2024 earnings at $0.96 EPS.

Northland Power (TSE:NPI) last posted its earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) EPS for the quarter, missing the consensus estimate of C$0.43 by C($0.92). Northland Power had a negative return on equity of 2.09% and a negative net margin of 7.85%. The business had revenue of C$626.22 million for the quarter, compared to analyst estimates of C$614.15 million.

NPI has been the topic of a number of other reports. BMO Capital Markets reduced their price objective on shares of Northland Power from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. National Bankshares raised their price objective on Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. CIBC dropped their price objective on shares of Northland Power from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. Desjardins dropped their price target on shares of Northland Power from C$29.00 to C$27.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Raymond James lowered Northland Power from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from C$32.00 to C$30.00 in a research report on Thursday, April 25th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$31.79.

Northland Power Stock Up 1.2 %

Shares of NPI opened at C$21.63 on Thursday. The stock’s 50-day moving average price is C$22.25 and its two-hundred day moving average price is C$22.75. Northland Power has a 12 month low of C$19.36 and a 12 month high of C$32.74. The company has a market capitalization of C$5.53 billion, a PE ratio of -29.69, a PEG ratio of 0.71 and a beta of 0.45. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58.

Northland Power Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend is Monday, April 29th. Northland Power’s dividend payout ratio (DPR) is -166.67%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.