Brokers Set Expectations for Northland Power Inc.’s Q1 2024 Earnings (TSE:NPI)

Northland Power Inc. (TSE:NPI) – Research analysts at Raymond James lifted their Q1 2024 earnings per share (EPS) estimates for Northland Power in a report released on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the solar energy provider will earn $0.61 per share for the quarter, up from their previous estimate of $0.57. Raymond James has a “Outperform” rating and a $30.00 price target on the stock. The consensus estimate for Northland Power’s current full-year earnings is $1.18 per share. Raymond James also issued estimates for Northland Power’s Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.53 EPS and FY2025 earnings at $1.55 EPS.

A number of other brokerages also recently issued reports on NPI. CIBC reduced their price target 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. National Bankshares raised their target price on 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, BMO Capital Markets reduced their target price on Northland Power from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Northland Power presently has a consensus rating of “Buy” and an average price target of C$31.96.

Northland Power Price Performance

Shares of TSE NPI opened at C$20.67 on Friday. The firm has a market cap of C$5.28 billion, a P/E ratio of -28.71, a price-to-earnings-growth ratio of 0.71 and a beta of 0.45. The company has a current ratio of 1.13, a quick ratio of 1.23 and a debt-to-equity ratio of 165.58. Northland Power has a 1-year low of C$19.36 and a 1-year high of C$34.14. The business’s 50 day moving average is C$22.54 and its 200-day moving average is C$22.79.

Northland Power (TSE:NPI) last released its quarterly earnings data on Wednesday, February 21st. The solar energy provider reported C($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.43 by C($0.92). The business had revenue of C$626.22 million during the quarter, compared to the consensus estimate of C$614.15 million. Northland Power had a negative net margin of 7.85% and a negative return on equity of 2.09%.

Northland Power Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Monday, April 29th. Northland Power’s dividend payout ratio (DPR) is -166.67%.

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.