Innergex Renewable Energy (INE) to Release Earnings on Wednesday

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

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, beating the consensus estimate of C($0.04) by C$0.01. The company had revenue of C$261.53 million for the quarter, compared to the consensus estimate of C$264.85 million. Innergex Renewable Energy had a negative return on equity of 7.86% and a negative net margin of 9.45%.

Innergex Renewable Energy Trading 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 company has a debt-to-equity ratio of 544.43, a quick ratio of 0.58 and a current ratio of 0.92. The firm has a 50-day moving average of C$8.13 and a 200-day moving average of C$8.68. The stock has a market cap of C$1.73 billion, a PE ratio of -16.63, a PEG ratio of 20.61 and a beta of 0.35.

Innergex Renewable Energy Cuts Dividend

The company also recently declared 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Wednesday, March 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -70.59%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. 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 report on Monday, February 12th. BMO Capital Markets cut their price target on shares of 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. National Bankshares increased their target price on shares of Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Desjardins lowered their target price on shares of Innergex Renewable Energy from C$14.00 to C$13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, CIBC upped their price target on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Innergex Renewable Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$12.47.

Insider Activity

In related news, Director Richard Gagnon purchased 3,125 shares of Innergex Renewable Energy stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average cost of C$8.13 per share, for a total transaction of C$25,408.75. In other news, Senior Officer Jean Trudel acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of C$7.68 per share, with a total value of C$99,840.00. Also, Director Richard Gagnon purchased 3,125 shares of the stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of C$8.13 per share, with a total value of C$25,408.75. Over the last three months, insiders have bought 22,125 shares of company stock valued at $174,975. Company insiders own 20.41% of the company’s stock.

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.