Innio (NASDAQ:INIO) Announces Quarterly Earnings Results

Innio (NASDAQ:INIO) announced its quarterly earnings data on Tuesday. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03, FiscalAI reports. The company had revenue of $937.70 million during the quarter.

Innio Stock Up 2.4%

Shares of INIO opened at $26.92 on Tuesday. Innio has a 52-week low of $24.58 and a 52-week high of $42.95.

Wall Street Analyst Weigh In

Several research analysts have commented on INIO shares. Wall Street Zen upgraded shares of Innio to a “hold” rating in a report on Saturday, June 13th. The Goldman Sachs Group started coverage on shares of Innio in a report on Monday, June 29th. They issued a “buy” rating and a $42.00 price objective on the stock. Citigroup began coverage on shares of Innio in a research note on Monday, June 29th. They set a “neutral” rating and a $42.00 target price for the company. Morgan Stanley initiated coverage on Innio in a report on Monday, June 29th. They issued an “overweight” rating and a $47.00 target price on the stock. Finally, Bank of America assumed coverage on Innio in a research note on Monday, June 29th. They issued a “buy” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.60.

About Innio

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.