Raymond James Equities Analysts Boost Earnings Estimates for Northland Power Inc. (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Investment analysts at Raymond James lifted their Q1 2024 earnings per share estimates for shares of Northland Power in a report issued on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the solar energy provider will post earnings of $0.61 per share for the quarter, up from their prior estimate of $0.57. Raymond James has a “Outperform” rating and a $30.00 price objective on the stock. The consensus estimate for Northland Power’s current full-year earnings is $1.18 per share. Raymond James also issued estimates for Northland Power’s Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.53 EPS and FY2025 earnings at $1.55 EPS.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reduced their price target on shares of Northland Power from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. National Bankshares lifted their price target on shares of Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Finally, CIBC cut their price objective on Northland Power from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$31.96.

Northland Power Price Performance

NPI stock opened at C$20.50 on Friday. The firm has a 50 day moving average of C$22.47 and a 200-day moving average of C$22.79. Northland Power has a 12-month low of C$19.36 and a 12-month high of C$33.80. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58. The company has a market cap of C$5.24 billion, a price-to-earnings ratio of -28.47, a PEG ratio of 0.71 and a beta of 0.45.

Northland Power (TSE:NPI) last posted its quarterly earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.43 by C($0.92). Northland Power had a negative net margin of 7.85% and a negative return on equity of 2.09%. The company had revenue of C$626.22 million for the quarter, compared to analyst estimates of C$614.15 million.

Northland Power Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.10 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.20 annualized dividend and a yield of 5.85%. Northland Power’s dividend payout ratio (DPR) is presently -166.67%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.