Brokers Offer Predictions for Innergex Renewable Energy Inc’s FY2019 Earnings (INE)

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Innergex Renewable Energy Inc (TSE:INE) – Analysts at National Bank Financial upped their FY2019 earnings per share estimates for Innergex Renewable Energy in a note issued to investors on Wednesday, January 23rd, Zacks Investment Research reports. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of $0.33 for the year, up from their previous forecast of $0.25.

A number of other equities analysts also recently weighed in on INE. BMO Capital Markets lowered their price target on Innergex Renewable Energy from C$15.50 to C$13.50 in a research report on Tuesday, November 6th. Raymond James lowered their price target on Innergex Renewable Energy from C$20.00 to C$17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 14th. Finally, Canaccord Genuity set a C$13.50 target price on Innergex Renewable Energy in a research report on Monday, November 19th.

TSE INE traded down C$0.23 during trading on Monday, reaching C$14.49. 310,424 shares of the company’s stock were exchanged, compared to its average volume of 313,698. The company has a market cap of $1.96 billion and a PE ratio of 97.91. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 406.98. Innergex Renewable Energy has a fifty-two week low of C$11.66 and a fifty-two week high of C$14.75.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings results on Tuesday, November 13th. The company reported C$0.07 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.04 by C$0.03. The business had revenue of C$140.77 million for the quarter, compared to analyst estimates of C$136.50 million.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Friday, December 28th. Innergex Renewable Energy’s payout ratio is 459.46%.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through four segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, and Site Development.

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