Scotiabank Brokers Lift Earnings Estimates for OTCMKTS:INGXF

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) – Equities research analysts at Scotiabank upped their FY2024 EPS estimates for shares of Innergex Renewable Energy in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the company will earn ($0.10) per share for the year, up from their previous estimate of ($0.11). The consensus estimate for Innergex Renewable Energy’s current full-year earnings is ($0.07) per share.

Innergex Renewable Energy Stock Down 2.9 %

Shares of OTCMKTS:INGXF opened at $5.36 on Monday. The firm has a market capitalization of $1.09 billion, a P/E ratio of -10.93 and a beta of 0.65. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $5.98 and a 200-day moving average price of $6.72. Innergex Renewable Energy has a 52-week low of $5.26 and a 52-week high of $7.90.

Innergex Renewable Energy (OTCMKTS:INGXF) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $179.04 million during the quarter, compared to the consensus estimate of $192.68 million. Innergex Renewable Energy had a negative net margin of 13.73% and a negative return on equity of 1.70%.

Innergex Renewable Energy Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st will be given a dividend of $0.0649 per share. This represents a yield of 4.6%. The ex-dividend date is Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is currently -51.02%.

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.