Brokers Offer Predictions for Northland Power Inc.’s FY2023 Earnings (TSE:NPI)

Northland Power Inc. (TSE:NPI – Get Rating) – Stock analysts at Raymond James reduced their FY2023 earnings per share (EPS) estimates for shares of Northland Power in a research report issued on Thursday, May 11th. Raymond James analyst D. Quezada now expects that the solar energy provider will earn $1.19 per share for the year, down from their prior forecast of $1.40. Raymond James currently has a “Outperform” rating and a $48.00 target price on the stock. The consensus estimate for Northland Power’s current full-year earnings is $1.13 per share. Raymond James also issued estimates for Northland Power’s Q4 2023 earnings at $0.54 EPS and FY2024 earnings at $1.51 EPS.

A number of other research firms have also recently weighed in on NPI. Scotiabank decreased their price objective on shares of Northland Power from C$51.00 to C$49.00 in a research report on Monday, February 6th. CIBC decreased their price objective on shares of Northland Power from C$43.00 to C$42.00 in a research report on Friday, April 21st. National Bankshares upped their target price on shares of Northland Power from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. CSFB cut their target price on shares of Northland Power from C$46.50 to C$46.00 in a research note on Wednesday, April 5th. Finally, Royal Bank of Canada cut their target price on shares of Northland Power from C$43.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Monday, February 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$45.60.

Northland Power Stock Performance

TSE:NPI opened at C$29.27 on Monday. The company has a debt-to-equity ratio of 151.01, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a 50-day moving average of C$33.24 and a two-hundred day moving average of C$35.65. The stock has a market cap of C$7.34 billion, a P/E ratio of 9.63, a PEG ratio of 0.71 and a beta of 0.39. Northland Power has a 1-year low of C$27.20 and a 1-year high of C$47.13.

Northland Power (TSE:NPI – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The solar energy provider reported C$0.53 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.43 by C$0.10. The business had revenue of C$641.12 million for the quarter, compared to analysts’ expectations of C$595.90 million.

Northland Power Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 17th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 30th. This represents a $1.20 annualized dividend and a dividend yield of 4.10%. Northland Power’s payout ratio is currently 39.47%.

Northland Power Company Profile

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Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in North America, Europe, Latin America, and Asia. The company produces electricity from renewable resources, such as wind, solar, or hydropower, as well as clean-burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.