FY2024 EPS Estimates for OTCMKTS:INGXF Lifted by Scotiabank

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) – Investment analysts at Scotiabank upped their FY2024 earnings per share estimates for shares of Innergex Renewable Energy in a research note issued on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will post earnings per share of ($0.10) for the year, up from their previous 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 Up 7.0 %

Shares of OTCMKTS INGXF opened at $5.73 on Monday. The firm has a fifty day simple moving average of $5.96 and a two-hundred day simple moving average of $6.70. The firm has a market capitalization of $1.16 billion, a PE ratio of -11.69 and a beta of 0.65. 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 12 month low of $5.26 and a 12 month high of $7.90.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $179.04 million during the quarter, compared to the consensus estimate of $192.68 million. Innergex Renewable Energy had a negative return on equity of 1.70% and a negative net margin of 13.73%.

Innergex Renewable Energy Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st will be given a dividend of $0.0649 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a yield of 4.6%. Innergex Renewable Energy’s payout ratio is -51.02%.

Innergex Renewable Energy Company Profile

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.