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

Innergex Renewable Energy (TSE:INE) had its target price reduced by equities researchers at CIBC from C$11.50 to C$11.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 21.41% from the company’s previous close.

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

Innergex Renewable Energy Stock Up 2.5 %

TSE:INE opened at C$9.06 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$10.96. The company has a market cap of C$1.84 billion, a PE ratio of -13.94, a P/E/G ratio of 20.61 and a beta of 0.36. The company’s 50 day moving average is C$9.62 and its two-hundred day moving average is C$9.56.

Innergex Renewable Energy (TSE:INE) last issued its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The firm 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%. Analysts anticipate that Innergex Renewable Energy will post 0.1549878 EPS 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.