Analysts Issue Forecasts for Northland Power Q3 Earnings

Northland Power Inc. (TSE:NPI) – Atb Cap Markets lifted their Q3 2024 earnings estimates for shares of Northland Power in a research note issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now anticipates that the solar energy provider will post earnings of $0.32 per share for the quarter, up from their prior forecast of $0.05. Atb Cap Markets also issued estimates for Northland Power’s FY2024 earnings at $1.80 EPS.

Separately, National Bankshares raised their price target on Northland Power from C$34.00 to C$35.00 in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.14.

Northland Power Stock Performance

TSE NPI opened at C$21.85 on Friday. Northland Power has a 52-week low of C$19.36 and a 52-week high of C$25.36. The company has a fifty day moving average of C$22.03 and a 200-day moving average of C$22.67. The company has a market capitalization of C$5.63 billion, a P/E ratio of 91.04, a P/E/G ratio of 0.71 and a beta of 0.47. The company has a debt-to-equity ratio of 166.53, a quick ratio of 1.23 and a current ratio of 0.86.

Northland Power (TSE:NPI) last released its quarterly earnings results on Wednesday, August 14th. The solar energy provider reported C$0.25 earnings per share for the quarter, beating the consensus estimate of C$0.17 by C$0.08. Northland Power had a return on equity of 3.95% and a net margin of 2.98%. The firm had revenue of C$528.97 million for the quarter, compared to analysts’ expectations of C$526.10 million.

Northland Power Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.20 annualized dividend and a yield of 5.49%. Northland Power’s payout ratio is 500.00%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.