Northland Power Inc. Expected to Earn Q1 2024 Earnings of $0.51 Per Share (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Investment analysts at Cormark issued their Q1 2024 earnings per share (EPS) estimates for shares of Northland Power in a research report issued to clients and investors on Wednesday, May 1st. Cormark analyst N. Boychuk anticipates that the solar energy provider will post earnings per share of $0.51 for the quarter. The consensus estimate for Northland Power’s current full-year earnings is $1.18 per share. Cormark also issued estimates for Northland Power’s FY2024 earnings at $0.96 EPS.

A number of other brokerages have also issued reports on NPI. CIBC dropped their target price on Northland Power from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Desjardins reduced their target price on Northland Power from C$29.00 to C$27.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets dropped their price target on shares of Northland Power from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. National Bankshares upped their price target on shares of Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Finally, Raymond James downgraded shares of Northland Power from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from C$32.00 to C$30.00 in a research report on Thursday, April 25th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Northland Power currently has a consensus rating of “Buy” and a consensus target price of C$31.79.

Northland Power Price Performance

The company has a debt-to-equity ratio of 165.58, a current ratio of 1.13 and a quick ratio of 1.23. The business has a 50 day moving average price of C$22.34 and a two-hundred day moving average price of C$22.77. The firm has a market cap of C$5.46 billion, a price-to-earnings ratio of -29.68, a P/E/G ratio of 0.71 and a beta of 0.45. Northland Power has a 1-year low of C$19.36 and a 1-year high of C$33.10.

Northland Power (TSE:NPI) last posted its earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) EPS for the quarter, missing analysts’ consensus estimates of C$0.43 by C($0.92). The firm had revenue of C$626.22 million for the quarter, compared to analyst estimates of C$614.15 million. Northland Power had a negative return on equity of 2.09% and a negative net margin of 7.85%.

Northland Power Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.20 dividend on an annualized basis and a yield of ∞. Northland Power’s dividend payout ratio is currently -166.67%.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in Canada, Netherlands, Germany, Spain, Colombia, and internationally. The company produces electricity from renewable resources, such as wind and solar, as well as natural gas for sale under power purchase agreements and other revenue arrangements.