Innergex Renewable Energy (TSE:INE) PT Lowered to C$14.00

Innergex Renewable Energy (TSE:INE) had its target price cut by stock analysts at BMO Capital Markets from C$17.50 to C$14.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 52.17% from the stock’s current price.

A number of other research firms have also recently commented on INE. CIBC dropped their price target on shares of Innergex Renewable Energy from C$15.00 to C$13.50 and set a “neutral” rating for the company in a research note on Thursday, October 19th. TD Securities cut their target price on Innergex Renewable Energy from C$15.00 to C$12.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. Desjardins reduced their price target on Innergex Renewable Energy from C$16.50 to C$14.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. National Bankshares decreased their price target on Innergex Renewable Energy from C$18.00 to C$16.00 and set an “outperform” rating for the company in a research note on Thursday, October 12th. Finally, Raymond James reduced their target price on Innergex Renewable Energy from C$21.50 to C$15.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Innergex Renewable Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$15.89.

Innergex Renewable Energy Price Performance

TSE:INE opened at C$9.20 on Thursday. The firm has a market capitalization of C$1.88 billion, a price-to-earnings ratio of -92.00, a PEG ratio of 20.61 and a beta of 0.35. The company has a debt-to-equity ratio of 437.28, a current ratio of 0.99 and a quick ratio of 0.58. The business has a 50 day simple moving average of C$10.41 and a 200-day simple moving average of C$12.22. Innergex Renewable Energy has a 1 year low of C$8.51 and a 1 year high of C$18.05.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings results on Tuesday, August 8th. The company reported C$0.05 earnings per share for the quarter, missing the consensus estimate of C$0.09 by C($0.04). Innergex Renewable Energy had a negative net margin of 1.71% and a negative return on equity of 1.35%. The company had revenue of C$251.91 million for the quarter, compared to analysts’ expectations of C$260.00 million. Equities analysts forecast that Innergex Renewable Energy will post 0.380031 EPS for the current 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 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.