Raymond James Weighs in on Northland Power Inc.’s Q3 2024 Earnings (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Equities research analysts at Raymond James lifted their Q3 2024 EPS estimates for Northland Power in a research report issued to clients and investors on Wednesday, July 24th. Raymond James analyst D. Quezada now expects that the solar energy provider will earn $0.24 per share for the quarter, up from their previous estimate of $0.18. Raymond James currently has a “Outperform” rating and a $30.00 target price on the stock. The consensus estimate for Northland Power’s current full-year earnings is $1.30 per share. Raymond James also issued estimates for Northland Power’s Q4 2024 earnings at $0.43 EPS and FY2024 earnings at $1.17 EPS.

Northland Power (TSE:NPI) last announced its earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 earnings per share for the quarter, missing the consensus estimate of C$0.55 by C($0.26). Northland Power had a negative net margin of 7.16% and a negative return on equity of 1.15%. The company had revenue of C$754.92 million during the quarter, compared to analysts’ expectations of C$684.27 million.

NPI has been the subject of several other research reports. TD Securities raised their target price on shares of Northland Power from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. National Bankshares raised their price objective on shares of Northland Power from C$34.00 to C$35.00 in a research report on Thursday, July 11th. Desjardins boosted their target price on Northland Power from C$27.00 to C$29.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. CIBC increased their target price on Northland Power from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Finally, Scotiabank lifted their price target on Northland Power from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$31.50.

Northland Power Price Performance

Shares of TSE NPI opened at C$23.07 on Friday. The company has a debt-to-equity ratio of 164.02, a current ratio of 1.16 and a quick ratio of 1.23. The company has a market cap of C$5.92 billion, a PE ratio of -32.96, a P/E/G ratio of 0.71 and a beta of 0.44. The stock has a fifty day moving average price of C$23.81 and a 200 day moving average price of C$23.26. Northland Power has a 1-year low of C$19.36 and a 1-year high of C$27.09.

Northland Power Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.20 annualized dividend and a yield of 5.20%. Northland Power’s dividend payout ratio (DPR) is currently -171.43%.

Northland Power Company Profile

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.