Innergex Renewable Energy Inc to Post FY2018 Earnings of $0.44 Per Share, National Bank Financial Forecasts (INE)

Innergex Renewable Energy Inc (TSE:INE) – Equities research analysts at National Bank Financial cut their FY2018 earnings estimates for shares of Innergex Renewable Energy in a note issued to investors on Tuesday. National Bank Financial analyst R. Merer now expects that the company will post earnings of $0.44 per share for the year, down from their previous forecast of $0.46.

Several other research analysts have also commented on the company. TD Securities boosted their price objective on Innergex Renewable Energy from C$15.00 to C$15.50 and gave the stock a “hold” rating in a report on Tuesday, October 31st. CIBC cut their price objective on Innergex Renewable Energy from C$15.50 to C$15.00 in a report on Thursday, January 11th. BMO Capital Markets lowered Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$19.00 to C$15.00 in a report on Wednesday. Finally, Raymond James Financial upped their target price on Innergex Renewable Energy from C$18.50 to C$19.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of C$16.10.

Innergex Renewable Energy (TSE:INE) opened at C$13.16 on Thursday. Innergex Renewable Energy has a twelve month low of C$13.06 and a twelve month high of C$15.72. The company has a market capitalization of $1,430.00, a PE ratio of 52.64 and a beta of 0.22.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Thursday, November 9th. The company reported C$0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.10 by C($0.07). Innergex Renewable Energy had a return on equity of 5.45% and a net margin of 4.05%. The business had revenue of C$108.23 million for the quarter, compared to analysts’ expectations of C$112.80 million.

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About Innergex Renewable Energy

Innergex Renewable Energy Inc is a Canada-based renewable power producer. The Company is a developer, owner and operator of renewable power-generating facilities with a focus on hydroelectric, wind power and solar photovoltaic (PV) projects. It operates through four segments: hydroelectric generation, wind power generation, solar power generation and site development.

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