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

Innergex Renewable Energy (TSE:INE) is scheduled to announce its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of C($0.01) per share for the quarter.

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Wednesday, May 8th. The company reported C($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C($0.11). The company had revenue of C$242.54 million during the quarter, compared to analysts’ expectations of C$240.80 million. Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%.

Innergex Renewable Energy Stock Performance

TSE INE opened at C$9.40 on Tuesday. The firm has a 50-day moving average of C$10.15 and a 200-day moving average of C$8.95. The company has a debt-to-equity ratio of 546.12, a quick ratio of 0.58 and a current ratio of 0.74. The stock has a market cap of C$1.91 billion, a PE ratio of -14.69, a P/E/G ratio of 20.61 and a beta of 0.34. Innergex Renewable Energy has a 52-week low of C$7.05 and a 52-week high of C$13.34.

Innergex Renewable Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 15th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Friday, June 28th. Innergex Renewable Energy’s dividend payout ratio is presently -56.25%.

Insider Transactions at Innergex Renewable Energy

In related news, Director Patrick Loulou bought 11,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average price of C$10.25 per share, for a total transaction of C$112,750.00. Corporate insiders own 20.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on INE shares. Scotiabank lifted their price objective on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. National Bankshares lifted their price objective on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, July 4th. Cibc World Mkts upgraded shares of Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Desjardins lifted their price objective on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, CIBC lifted 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 research note on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Innergex Renewable Energy has a consensus rating of “Moderate Buy” and an average target price of C$12.25.

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.