Q2 2024 EPS Estimates for Northland Power Inc. Boosted by Raymond James (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Equities researchers at Raymond James increased their Q2 2024 earnings per share (EPS) estimates for Northland Power in a research note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the solar energy provider will earn $0.22 per share for the quarter, up from their previous forecast of $0.16. Raymond James has a “Outperform” rating and a $30.00 price target 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 Q3 2024 earnings at $0.16 EPS and FY2024 earnings at $1.33 EPS.

Northland Power (TSE:NPI) last announced its quarterly earnings data 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 business had revenue of C$626.22 million during the quarter, compared to analyst estimates of C$614.15 million.

Several other analysts have also weighed in on NPI. CIBC lowered their price objective on shares of Northland Power from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. BMO Capital Markets dropped their price objective on shares of Northland Power from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Finally, National Bankshares raised their target price on Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Northland Power presently has a consensus rating of “Buy” and a consensus target price of C$31.96.

Northland Power Price Performance

Shares of NPI opened at C$20.50 on Monday. The firm has a market cap of C$5.24 billion, a PE ratio of -28.47, a price-to-earnings-growth ratio of 0.71 and a beta of 0.45. Northland Power has a 52-week low of C$19.36 and a 52-week high of C$33.80. The business’s 50 day moving average price is C$22.47 and its two-hundred day moving average price is C$22.79. The company has a debt-to-equity ratio of 165.58, a quick ratio of 1.23 and a current ratio of 1.13.

Northland Power Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Monday, April 29th. Northland Power’s payout ratio is currently -166.67%.

Northland Power Company Profile

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.