Q3 2024 EPS Estimates for Northland Power Inc. (TSE:NPI) Boosted by Raymond James

Northland Power Inc. (TSE:NPI) – Equities research analysts at Raymond James upped their Q3 2024 earnings estimates for shares of Northland Power in a report issued on Wednesday, July 24th. Raymond James analyst D. Quezada now forecasts that the solar energy provider will post earnings of $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 issued its earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 EPS for the quarter, missing analysts’ consensus estimates of C$0.55 by C($0.26). The company had revenue of C$754.92 million during the quarter, compared to analyst estimates of C$684.27 million. Northland Power had a negative net margin of 7.16% and a negative return on equity of 1.15%.

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

Northland Power Trading Up 0.2 %

TSE:NPI opened at C$23.07 on Friday. The firm has a market capitalization of C$5.92 billion, a P/E ratio of -32.96, a P/E/G ratio of 0.71 and a beta of 0.44. The business has a 50 day simple moving average of C$23.81 and a 200 day simple moving average of C$23.26. The company has a debt-to-equity ratio of 164.02, a current ratio of 1.16 and a quick ratio of 1.23. Northland Power has a 12-month low of C$19.36 and a 12-month high of C$27.09.

Northland Power Announces Dividend

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