Northland Power (TSE:NPI) Price Target Cut to C$27.00 by Analysts at Desjardins

Northland Power (TSE:NPI) had its price objective decreased by analysts at Desjardins from C$29.00 to C$27.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the solar energy provider’s stock. Desjardins’ target price indicates a potential upside of 29.25% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Raymond James downgraded Northland Power from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from C$32.00 to C$30.00 in a research note on Thursday, April 25th. CIBC decreased their target price on Northland Power from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. BMO Capital Markets decreased their target price on Northland Power from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Finally, National Bankshares lifted their target price on Northland Power from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$31.79.

Northland Power Stock Up 1.6 %

Shares of Northland Power stock traded up C$0.32 during trading hours on Tuesday, hitting C$20.89. 415,962 shares of the company’s stock traded hands, compared to its average volume of 1,006,071. The stock has a 50 day simple moving average of C$22.40 and a 200-day simple moving average of C$22.78. The company has a quick ratio of 1.23, a current ratio of 1.13 and a debt-to-equity ratio of 165.58. The company has a market cap of C$5.34 billion, a PE ratio of -29.00, a PEG ratio of 0.71 and a beta of 0.45. Northland Power has a twelve month low of C$19.36 and a twelve month high of C$33.32.

Northland Power (TSE:NPI) last announced its earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) earnings per share for the quarter, missing the consensus estimate of C$0.43 by C($0.92). The business had revenue of C$626.22 million for the quarter, compared to analyst estimates of C$614.15 million. Northland Power had a negative net margin of 7.85% and a negative return on equity of 2.09%. Equities research analysts anticipate that Northland Power will post 1.1793651 earnings per share for the current fiscal year.

About Northland Power

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.