Scotiabank Has Lowered Expectations for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its price objective cut by investment analysts at Scotiabank from C$12.50 to C$11.50 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 30.39% from the company’s previous close.

Several other equities research analysts have also issued reports on INE. Cormark lowered shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. BMO Capital Markets raised their price target on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. CIBC increased their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective on the stock. in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.38.

Innergex Renewable Energy Stock Down 2.0 %

Shares of INE traded down C$0.18 during trading hours on Thursday, reaching C$8.82. The company’s stock had a trading volume of 398,643 shares, compared to its average volume of 645,364. The company has a 50 day moving average of C$9.64 and a two-hundred day moving average of C$9.55. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. The firm has a market cap of C$1.79 billion, a price-to-earnings ratio of -13.57, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 1-year low of C$7.05 and a 1-year high of C$10.96.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The company had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. As a group, research analysts predict that Innergex Renewable Energy will post 0.1549878 EPS for the current fiscal year.

Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.