Innergex Renewable Energy (TSE:INE) Sets New 52-Week Low - What's Next?

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) has recently hit a new low point in its stock price, reaching C$7.05 during trading on Wednesday before stabilizing at C$7.19, with a trading volume of 809,740 shares. This decrease follows a previous close of C$7.47.

Analysts Set New Price Targets

The stock has been analyzed by several financial experts, with CIBC lowering its price target from C$11.50 to C$11.00 in a report on November 7th. Scotiabank also revised its forecast, decreasing its target from C$12.50 to C$11.50 on the same day. Currently, among ten analysts, five have assigned a hold rating, while the other five rated the stock a buy. MarketBeat reports a consensus rating of "Moderate Buy" along with an average price target of C$12.38 for the company.

Innergex Renewable Energy Price Performance

In terms of financial ratios, Innergex has a current ratio of 0.57, a quick ratio of 0.58, and a notably high debt-to-equity ratio of 428.86. The company's stock is averaging C$8.21 over the past fifty days and C$9.14 over the last 200 days. With a market capitalization of C$1.45 billion, its price-to-earnings ratio stands at -11.00, and the price-to-earnings-growth ratio is 20.61. The beta value of the stock is 0.36. On November 6th, Innergex announced its quarterly earnings, reporting earnings per share (EPS) of C$0.05, surpassing the expected EPS of C$0.03. However, the firm recorded a negative net margin of 11.96% and a return on equity of -9.27%. Analysts estimate that Innergex will achieve approximately 0.1549878 EPS for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

Recently, the company disclosed information regarding its quarterly dividend, which was paid on January 15th to shareholders recorded as of December 31st. This resulted in a dividend payout of $0.09 per share, leading to an annualized dividend of $0.36 and a yield of 5.03%. The ex-dividend date for this payout was also December 31st, with the dividend payout ratio recorded at -55.38%.

Innergex Renewable Energy Company Profile

Founded over 30 years ago, Innergex's mission revolves around the promotion of renewable energy sources, which they believe contribute to healthier communities and overall prosperity. In 2023, Corporate Knights recognized Innergex as one of Canada's top corporate citizens. The company operates as an independent producer of renewable energy, specializing in the development, acquisition, ownership, and operation of hydroelectric generating stations, wind farms, solar facilities, and energy storage solutions, aiming to create a sustainable future through renewable energy.

Innergex, Renewable, Energy