Raymond James Has Negative Forecast for TSE:INE Q1 Earnings

Innergex Renewable Energy Inc. (TSE:INE) – Raymond James reduced their Q1 2025 earnings per share estimates for Innergex Renewable Energy in a note issued to investors on Tuesday, April 29th. Raymond James analyst T. Genzebu now expects that the company will earn ($0.11) per share for the quarter, down from their previous estimate of ($0.09). Raymond James currently has a “Market Perform” rating and a $13.75 target price on the stock. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.15 per share.

Other analysts also recently issued research reports about the stock. Cormark lowered their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. National Bankshares cut Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. National Bank Financial lowered shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Desjardins cut shares of Innergex Renewable Energy from a “buy” rating to a “tender” rating and dropped their price target for the company from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. Finally, Scotiabank dropped their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Innergex Renewable Energy currently has a consensus rating of “Hold” and an average target price of C$11.59.

Innergex Renewable Energy Price Performance

Shares of INE opened at C$13.54 on Friday. The business has a 50-day moving average of C$13.51 and a 200-day moving average of C$10.16. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The company has a market capitalization of C$2.78 billion, a price-to-earnings ratio of -21.72, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 1 year low of C$6.98 and a 1 year high of C$13.63.

Innergex Renewable Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 31st. Innergex Renewable Energy’s dividend payout ratio is presently -57.74%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.