FY2020 EPS Estimates for Innergex Renewable Energy Inc (INE) Lowered by Raymond James

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Innergex Renewable Energy Inc (TSE:INE) – Investment analysts at Raymond James decreased their FY2020 earnings estimates for Innergex Renewable Energy in a report issued on Wednesday, May 15th. Raymond James analyst D. Quezada now expects that the company will earn $0.48 per share for the year, down from their prior estimate of $0.53. Raymond James currently has a “Outperform” rating and a $17.00 price target on the stock.

A number of other research analysts have also recently weighed in on INE. BMO Capital Markets raised their price target on Innergex Renewable Energy from C$13.50 to C$15.00 and gave the company a “market perform” rating in a research report on Wednesday, February 13th. National Bank Financial raised their price target on Innergex Renewable Energy from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Tuesday, February 19th. TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and raised their price target for the company from C$15.00 to C$16.00 in a research report on Friday, March 1st. Finally, Desjardins restated an “average” rating and issued a C$15.50 price target on shares of Innergex Renewable Energy in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$15.86.

Shares of INE stock opened at C$13.88 on Monday. Innergex Renewable Energy has a fifty-two week low of C$11.66 and a fifty-two week high of C$14.75. The firm has a market capitalization of $1.86 billion and a PE ratio of 67.38. The company has a debt-to-equity ratio of 490.74, a current ratio of 0.36 and a quick ratio of 0.29.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, February 27th. The company reported C$0.10 EPS for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. The business had revenue of C$166.16 million during the quarter, compared to analyst estimates of C$162.30 million.

In related news, Director Daniel Lafrance acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of C$13.82 per share, for a total transaction of C$27,640.00. Following the transaction, the director now owns 35,000 shares in the company, valued at approximately C$483,700.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Thursday, June 27th. Innergex Renewable Energy’s dividend payout ratio is presently 332.52%.

Innergex Renewable Energy Company Profile

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 five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

See Also: Federal Reserve

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