Cormark Has Lowered Expectations for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its price target lowered by investment analysts at Cormark from C$10.00 to C$9.50 in a report issued on Thursday,BayStreet.CA reports. Cormark’s price objective suggests a potential upside of 30.85% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Scotiabank reduced their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday. CIBC dropped their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$11.94.

Innergex Renewable Energy Stock Up 1.5 %

Shares of TSE:INE traded up C$0.11 during trading on Thursday, hitting C$7.26. The company’s stock had a trading volume of 207,203 shares, compared to its average volume of 606,690. The company has a market capitalization of C$1.47 billion, a PE ratio of -11.17, a PEG ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$10.96. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The stock’s 50-day moving average price is C$8.18 and its two-hundred day moving average price is C$9.12.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$0.05 EPS for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.02. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, sell-side analysts expect that Innergex Renewable Energy will post 0.1549878 EPS for the current year.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.