Innergex Renewable Energy Inc (TSE:INE) – Analysts at National Bank Financial lowered their FY2018 earnings estimates for shares of Innergex Renewable Energy in a report released on Tuesday. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of $0.44 for the year, down from their prior forecast of $0.46.

Innergex Renewable Energy (TSE:INE) last announced its earnings results on Thursday, November 9th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.10 by C($0.07). The company had revenue of C$108.23 million for the quarter, compared to analyst estimates of C$112.80 million. Innergex Renewable Energy had a return on equity of 5.45% and a net margin of 4.05%.

Several other brokerages also recently commented on INE. TD Securities raised their target price on shares of Innergex Renewable Energy from C$15.00 to C$15.50 and gave the stock a “hold” rating in a report on Tuesday, October 31st. Raymond James Financial raised their target price on shares of Innergex Renewable Energy from C$18.50 to C$19.00 and gave the stock an “outperform” rating in a report on Tuesday, December 19th. CIBC dropped their target price on shares of Innergex Renewable Energy from C$15.50 to C$15.00 in a report on Thursday, January 11th. Finally, BMO Capital Markets downgraded shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from C$19.00 to C$15.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of C$16.10.

Shares of Innergex Renewable Energy (INE) traded up C$0.05 during mid-day trading on Thursday, reaching C$13.40. 145,212 shares of the company’s stock traded hands, compared to its average volume of 253,746. The firm has a market cap of $1,450.00, a P/E ratio of 53.40 and a beta of 0.22. Innergex Renewable Energy has a 52-week low of C$13.31 and a 52-week high of C$15.72.

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About Innergex Renewable Energy

Innergex Renewable Energy Inc is a Canada-based renewable power producer. The Company is a developer, owner and operator of renewable power-generating facilities with a focus on hydroelectric, wind power and solar photovoltaic (PV) projects. It operates through four segments: hydroelectric generation, wind power generation, solar power generation and site development.

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