Raymond James Analysts Lift Earnings Estimates for Northland Power Inc. (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Stock analysts at Raymond James lifted their FY2019 earnings per share (EPS) estimates for shares of Northland Power in a research note issued on Tuesday, April 23rd, Zacks Investment Research reports. Raymond James analyst D. Quezada now anticipates that the solar energy provider will post earnings per share of $1.56 for the year, up from their prior forecast of $1.47. Raymond James currently has a “Outperform” rating and a $30.00 price target on the stock. Raymond James also issued estimates for Northland Power’s Q4 2019 earnings at $0.38 EPS and FY2020 earnings at $1.67 EPS.

Northland Power (TSE:NPI) last released its quarterly earnings results on Thursday, February 21st. The solar energy provider reported C$0.22 EPS for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.11). The business had revenue of C$380.86 million during the quarter, compared to the consensus estimate of C$409.30 million.

Several other brokerages have also recently issued reports on NPI. National Bank Financial increased their price objective on Northland Power from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 5th. BMO Capital Markets reiterated an “outperform” rating and issued a C$28.00 price objective on shares of Northland Power in a research note on Tuesday, April 9th. CIBC increased their price objective on Northland Power from C$26.50 to C$27.00 in a research note on Friday, May 10th. Desjardins increased their price objective on Northland Power from C$27.50 to C$27.75 in a research note on Wednesday, February 27th. Finally, Royal Bank of Canada increased their price objective on Northland Power from C$24.00 to C$25.00 and gave the company a “sector perform” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$27.31.

Shares of TSE NPI traded up C$0.29 during mid-day trading on Wednesday, hitting C$25.35. The company had a trading volume of 372,400 shares, compared to its average volume of 666,316. The stock has a market cap of $4.57 billion and a P/E ratio of 15.61. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 491.00. Northland Power has a 1-year low of C$19.91 and a 1-year high of C$26.21.

Northland Power Company Profile

Northland Power Inc develops, builds, owns, and operates clean and green power projects primarily in Canada and Europe. The company produces electricity from renewable resources, such as wind, solar, or hydro power, as well as clean burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.

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