Innergex Renewable Energy (TSE:INE) Price Target Increased to C$17.00 by Analysts at CIBC

Innergex Renewable Energy (TSE:INE) had its price objective increased by CIBC from C$16.50 to C$17.00 in a research note published on Wednesday, BayStreet.CA reports.

Several other brokerages have also issued reports on INE. TD Securities decreased their price objective on Innergex Renewable Energy from C$17.50 to C$17.00 and set a hold rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada boosted their target price on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock a sector perform rating in a report on Wednesday, November 13th. National Bank Financial set a C$18.50 price objective on Innergex Renewable Energy and gave the company an outperform rating in a report on Monday, September 30th. Raymond James reaffirmed an outperform rating and issued a C$17.50 price objective on shares of Innergex Renewable Energy in a report on Thursday, November 14th. Finally, BMO Capital Markets raised Innergex Renewable Energy from a market perform rating to an outperform rating and increased their target price for the stock from C$17.00 to C$20.00 in a report on Monday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of C$17.50.

Shares of TSE INE traded up C$0.12 during midday trading on Wednesday, reaching C$18.07. 112,510 shares of the company traded hands, compared to its average volume of 217,531. The firm has a market cap of $2.50 billion and a PE ratio of 87.72. The stock’s 50-day simple moving average is C$17.06 and its 200-day simple moving average is C$15.85. Innergex Renewable Energy has a 12 month low of C$13.61 and a 12 month high of C$18.11. The company has a debt-to-equity ratio of 414.46, a quick ratio of 0.42 and a current ratio of 0.56.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.07 by C$0.06. The business had revenue of C$142.81 million during the quarter, compared to the consensus estimate of C$139.00 million. On average, equities research analysts expect that Innergex Renewable Energy will post 0.33 EPS for the current year.

Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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