Brokers Issue Forecasts for Northland Power Inc.’s Q2 2024 Earnings (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Equities research analysts at National Bank Financial boosted their Q2 2024 earnings per share (EPS) estimates for Northland Power in a research report issued to clients and investors on Wednesday, July 10th. National Bank Financial analyst R. Merer now forecasts that the solar energy provider will post earnings per share of $0.21 for the quarter, up from their previous forecast of $0.17. The consensus estimate for Northland Power’s current full-year earnings is $1.30 per share. National Bank Financial also issued estimates for Northland Power’s Q4 2024 earnings at $0.39 EPS.

Several other equities analysts have also recently commented on the stock. Scotiabank increased their price target on shares of Northland Power from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 12th. TD Securities increased their price target on shares of Northland Power from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Desjardins increased their price target on shares of Northland Power from C$27.00 to C$29.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. National Bankshares increased their price target on shares of Northland Power from C$34.00 to C$35.00 in a research report on Thursday. Finally, Raymond James cut shares of Northland Power from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from C$32.00 to C$30.00 in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Northland Power has an average rating of “Moderate Buy” and an average price target of C$31.50.

Northland Power Stock Performance

Shares of NPI stock opened at C$24.65 on Friday. The company has a debt-to-equity ratio of 164.02, a quick ratio of 1.23 and a current ratio of 1.16. Northland Power has a one year low of C$19.36 and a one year high of C$27.53. The company’s 50-day simple moving average is C$23.53 and its 200-day simple moving average is C$23.29. The stock has a market capitalization of C$6.32 billion, a price-to-earnings ratio of -35.21, a PEG ratio of 0.71 and a beta of 0.44.

Northland Power (TSE:NPI) last announced its earnings results on Wednesday, May 15th. The solar energy provider reported C$0.29 earnings per share for the quarter, missing the consensus estimate of C$0.55 by C($0.26). Northland Power had a negative net margin of 7.16% and a negative return on equity of 1.15%. The business had revenue of C$754.92 million for the quarter, compared to analyst estimates of C$684.27 million.

Northland Power Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.87%. Northland Power’s dividend payout ratio (DPR) is presently -171.43%.

Northland Power Company Profile

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.