Cormark Has Lowered Expectations for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its price target decreased by investment analysts at Cormark from C$10.00 to C$9.50 in a report issued on Thursday,BayStreet.CA reports. Cormark’s target price points to a potential upside of 30.85% from the stock’s previous close.

INE has been the topic of a number of other research reports. Scotiabank decreased their price objective on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday. CIBC decreased their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$11.94.

Innergex Renewable Energy Stock Performance

TSE INE traded up C$0.11 during trading on Thursday, reaching C$7.26. The company’s stock had a trading volume of 207,203 shares, compared to its average volume of 606,690. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The firm has a market cap of C$1.47 billion, a price-to-earnings ratio of -11.17, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$10.96. The business’s fifty day moving average price is C$8.18 and its 200-day moving average price is C$9.12.

Innergex Renewable Energy (TSE:INE) last issued its earnings results on Wednesday, November 6th. The company reported C$0.05 earnings per share for the quarter, beating the consensus estimate of C$0.03 by C$0.02. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. During the same period in the prior year, the business earned $0.03 EPS. As a group, analysts anticipate that Innergex Renewable Energy will post 0.1549878 EPS for the current fiscal year.

Innergex Renewable Energy Company Profile

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.