Innergex Renewable Energy Inc. (TSE:INE – Free Report) – Investment analysts at National Bank Financial cut their Q1 2024 earnings per share estimates for Innergex Renewable Energy in a research note issued on Monday, April 8th. National Bank Financial analyst R. Merer now anticipates that the company will earn ($0.08) per share for the quarter, down from their previous estimate of ($0.04). The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.12 per share. National Bank Financial also issued estimates for Innergex Renewable Energy’s FY2024 earnings at $0.08 EPS.
Innergex Renewable Energy (TSE:INE – Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.04) by C$0.01. The company had revenue of C$261.53 million during the quarter, compared to analyst estimates of C$264.85 million. Innergex Renewable Energy had a negative return on equity of 7.86% and a negative net margin of 9.45%.
Read Our Latest Report on Innergex Renewable Energy
Innergex Renewable Energy Stock Performance
Shares of TSE:INE opened at C$8.12 on Thursday. The firm has a market capitalization of C$1.66 billion, a PE ratio of -15.92, a P/E/G ratio of 20.61 and a beta of 0.37. The company has a debt-to-equity ratio of 544.43, a current ratio of 0.92 and a quick ratio of 0.58. The business has a 50-day moving average of C$8.06 and a two-hundred day moving average of C$8.91. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$15.23.
Insider Buying and Selling at Innergex Renewable Energy
In related news, Director Richard Gagnon purchased 3,125 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of C$8.13 per share, for a total transaction of C$25,408.75. In related news, Director Richard Gagnon purchased 3,125 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of C$8.13 per share, for a total transaction of C$25,408.75. Also, Senior Officer Jean Trudel purchased 13,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of C$7.68 per share, for a total transaction of C$99,840.00. Insiders have bought 22,125 shares of company stock worth $174,975 over the last quarter. 24.06% of the stock is owned by corporate insiders.
Innergex Renewable Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.43%. The ex-dividend date is Wednesday, March 27th. Innergex Renewable Energy’s payout ratio is currently -70.59%.
About Innergex Renewable Energy
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.
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