FY2023 Earnings Estimate for Northland Power Inc. Issued By Raymond James (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Equities researchers at Raymond James decreased their FY2023 EPS estimates for Northland Power in a report released on Friday, November 10th. Raymond James analyst D. Quezada now anticipates that the solar energy provider will post earnings of $0.90 per share for the year, down from their prior estimate of $0.93. Raymond James currently has a “Strong-Buy” rating and a $35.00 target price on the stock. The consensus estimate for Northland Power’s current full-year earnings is $1.26 per share. Raymond James also issued estimates for Northland Power’s Q4 2023 earnings at $0.47 EPS.

Several other analysts also recently weighed in on the company. Desjardins decreased their price objective on Northland Power from C$33.00 to C$30.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. BMO Capital Markets reduced their target price on shares of Northland Power from C$34.00 to C$31.00 and set an “outperform” rating for the company in a report on Friday. National Bankshares reduced their target price on shares of Northland Power from C$35.00 to C$32.00 in a report on Friday, October 13th. CSFB reduced their target price on shares of Northland Power from C$34.50 to C$33.00 and set an “outperform” rating for the company in a report on Friday, August 18th. Finally, Royal Bank of Canada reduced their target price on shares of Northland Power from C$31.00 to C$28.00 and set an “outperform” rating for the company in a report on Tuesday, October 3rd. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Northland Power presently has a consensus rating of “Buy” and an average price target of C$34.12.

Northland Power Stock Performance

NPI stock opened at C$21.57 on Monday. The company has a debt-to-equity ratio of 156.82, a current ratio of 1.13 and a quick ratio of 1.23. The business has a 50-day moving average price of C$22.24 and a 200 day moving average price of C$25.72. The company has a market capitalization of C$5.46 billion, a P/E ratio of 12.47, a PEG ratio of 0.71 and a beta of 0.43. Northland Power has a 1-year low of C$19.36 and a 1-year high of C$41.06.

Northland Power (TSE:NPI) last issued its earnings results on Thursday, August 10th. The solar energy provider reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.12 by C($0.11). The company had revenue of C$471.55 million for the quarter, compared to analysts’ expectations of C$454.15 million. Northland Power had a net margin of 18.99% and a return on equity of 12.32%.

Northland Power Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.56%. Northland Power’s payout ratio is 69.36%.

Northland Power Company Profile

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.