OTCMKTS:INGXF FY2024 EPS Forecast Boosted by Scotiabank

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) – Equities research analysts at Scotiabank upped their FY2024 earnings estimates for shares of Innergex Renewable Energy in a research note issued on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will earn ($0.10) per share for the year, up from their prior 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 Performance

OTCMKTS INGXF opened at $5.33 on Monday. The business’s 50-day moving average price is $5.94 and its 200 day moving average price is $6.69. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 4.50. Innergex Renewable Energy has a twelve month low of $5.26 and a twelve month high of $7.90. The company has a market capitalization of $1.08 billion, a PE ratio of -10.88 and a beta of 0.65.

Innergex Renewable Energy (OTCMKTS:INGXF) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business 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 business also recently declared a dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st will be issued a $0.0649 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a yield of 4.6%. Innergex Renewable Energy’s dividend payout ratio is currently -51.02%.

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.