Scotiabank Issues Pessimistic Forecast for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its target price lowered by Scotiabank from C$11.50 to C$10.50 in a report released on Thursday morning,BayStreet.CA reports.

Separately, CIBC decreased their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Five 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$11.94.

Innergex Renewable Energy Trading Down 0.1 %

TSE:INE opened at C$7.14 on Thursday. 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 firm has a market cap of C$1.45 billion, a price-to-earnings ratio of -10.98, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$10.96. The firm has a 50-day moving average price of C$8.15 and a two-hundred day moving average price of C$9.09.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$0.05 EPS for the quarter, beating the consensus estimate of C$0.03 by C$0.02. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. During the same period last year, the business posted $0.03 earnings per share. On average, equities analysts expect that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 5.04%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

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.