Scotiabank Issues Pessimistic Estimate for TSE:INE Earnings

Innergex Renewable Energy Inc. (TSE:INE) – Research analysts at Scotiabank decreased their FY2025 earnings per share (EPS) estimates for Innergex Renewable Energy in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will earn $0.05 per share for the year, down from their prior estimate of $0.08. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.15 per share. Scotiabank also issued estimates for Innergex Renewable Energy’s FY2026 earnings at ($0.02) EPS.

Separately, CIBC cut their price objective on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Innergex Renewable Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.38.

Innergex Renewable Energy Stock Down 1.9 %

TSE:INE opened at C$7.76 on Friday. The stock’s fifty day simple moving average is C$8.50 and its 200-day simple moving average is C$9.37. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. The firm has a market capitalization of C$1.57 billion, a P/E ratio of -11.94, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 12-month low of C$7.05 and a 12-month high of C$10.96.

Innergex Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.