Energy

Raymond James Weighs in on Innergex Renewable Energy Inc.’s Q2 2022 Earnings (TSE:INE)

Innergex Renewable Energy Inc. (TSE:INEGet Rating) – Equities researchers at Raymond James reduced their Q2 2022 earnings per share (EPS) estimates for shares of Innergex Renewable Energy in a note issued to investors on Thursday, April 28th. Raymond James analyst D. Quezada now forecasts that the company will post earnings of $0.11 per share for the quarter, down from their previous estimate of $0.13. Raymond James currently has a “Outperform” rating and a $24.00 price target on the stock. Raymond James also issued estimates for Innergex Renewable Energy’s FY2022 earnings at $0.27 EPS. Innergex Renewable Energy (TSE:INEGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported C($0.06) EPS for the quarter. The firm had revenue of C$202.39 million for the quarter.

INE has been the subject of several other research reports. Scotiabank cut their price target on Innergex Renewable Energy from C$26.50 to C$20.25 in a report on Thursday, January 27th. CIBC decreased their price target on Innergex Renewable Energy from C$22.50 to C$21.00 in a research note on Tuesday, January 11th. TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$21.00 price target on the stock. in a research note on Monday, April 4th. Credit Suisse Group boosted their price target on shares of Innergex Renewable Energy from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. Finally, CSFB lifted their price target on shares of Innergex Renewable Energy from C$24.00 to C$25.00 in a research note on Wednesday, April 20th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$23.66.

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Shares of TSE:INE opened at C$17.20 on Monday. Innergex Renewable Energy has a 1 year low of C$16.57 and a 1 year high of C$23.09. The firm has a market capitalization of C$3.51 billion and a price-to-earnings ratio of -15.75. The company has a debt-to-equity ratio of 373.46, a current ratio of 0.53 and a quick ratio of 0.38. The business’s 50 day moving average price is C$18.90 and its 200-day moving average price is C$18.80.

Innergex Renewable Energy Company Profile (Get Rating)

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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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