Innergex Renewable Energy (TSE:INE) Receives “Outperform” Rating from Raymond James

Innergex Renewable Energy (TSE:INE)‘s stock had its “outperform” rating reiterated by equities researchers at Raymond James in a report released on Wednesday, BayStreet.CA reports. They presently have a C$17.50 price target on the stock. Raymond James’ price objective would indicate a potential upside of 17.37% from the company’s previous close. Raymond James also issued estimates for Innergex Renewable Energy’s FY2019 earnings at $0.04 EPS.

A number of other equities analysts have also commented on the stock. BMO Capital Markets raised their price target on shares of Innergex Renewable Energy from C$15.00 to C$16.00 in a research report on Wednesday, June 26th. Desjardins reaffirmed an “average” rating and set a C$15.50 price target on shares of Innergex Renewable Energy in a research report on Wednesday, April 24th. Finally, TD Securities lowered their price target on shares of Innergex Renewable Energy from C$16.00 to C$15.50 and set a “hold” rating on the stock in a research report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of C$16.07.

Shares of INE opened at C$14.91 on Wednesday. The company has a market capitalization of $2.03 billion and a price-to-earnings ratio of 74.18. The company has a 50-day moving average of C$14.69. Innergex Renewable Energy has a fifty-two week low of C$11.66 and a fifty-two week high of C$15.28. The company has a debt-to-equity ratio of 520.90, a current ratio of 1.09 and a quick ratio of 0.17.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Tuesday, May 14th. The company reported C($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.03) by C($0.09). The firm had revenue of C$126.42 million for the quarter, compared to the consensus estimate of C$128.00 million. As a group, sell-side analysts expect that Innergex Renewable Energy will post 0.42 EPS for the current year.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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