Innergex Renewable Energy Inc reports results for the quarter ended March 31 - Earnings Summary

• Innergex Renewable Energy Inc INE.TO reported a quarterly adjusted loss of 2 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -11 cents. The mean expectation of four analysts for the quarter was for a loss of 9 cents per share. Wall Street expected results to range from -11 cents to -7 cents per share.

• Revenue rose 11.9% to C$271.49 million from a year ago; analysts expected C$280.73 million.

• The company reported a quarterly loss of C$11.95 million.

• Innergex Renewable Energy Inc shares had risen by 0.1% this quarter and gained 68.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 333.3% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electric utilities peer group is also "hold"

• Wall Street's median 12-month price target for Innergex Renewable Energy Inc is C$13.75

This summary was machine generated from LSEG data May 8 at 02:08 a.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)