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

Innergex Renewable Energy (TSE:INE) had its target price decreased by analysts at CIBC from C$11.50 to C$11.00 in a report issued on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 24.72% from the company’s previous close.

Several other equities analysts have also issued reports on INE. Scotiabank cut their price target on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday. TD Securities downgraded Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price on the stock. in a research note on Friday, July 26th. BMO Capital Markets increased their price target on Innergex Renewable Energy from C$11.00 to C$11.50 in a research note on Thursday, September 5th. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Finally, Cormark cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$12.38.

Innergex Renewable Energy Stock Down 2.0 %

TSE:INE traded down C$0.18 during mid-day trading on Thursday, reaching C$8.82. The company’s stock had a trading volume of 398,643 shares, compared to its average volume of 645,364. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$10.96. The stock has a fifty day moving average of C$9.64 and a 200-day moving average of C$9.55. The firm has a market capitalization of C$1.79 billion, a PE ratio of -13.57, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The business had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. Equities research analysts forecast that Innergex Renewable Energy will post 0.1549878 earnings per share for the current year.

Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.