Northland Power (TSE:NPI) Given New C$29.00 Price Target at CIBC

Northland Power (TSE:NPI) had its price target reduced by equities research analysts at CIBC from C$30.00 to C$29.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the solar energy provider’s stock. CIBC’s target price indicates a potential upside of 39.76% from the stock’s current price.

A number of other brokerages have also issued reports on NPI. Raymond James reduced their target price on Northland Power from C$35.00 to C$32.00 and set a “strong-buy” rating for the company in a research note on Friday, February 23rd. National Bankshares lifted their target price on Northland Power from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Finally, BMO Capital Markets dropped their price objective on shares of 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. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$32.13.

Northland Power Stock Down 1.1 %

Shares of NPI traded down C$0.24 during mid-day trading on Friday, hitting C$20.75. 642,500 shares of the company traded hands, compared to its average volume of 998,154. The business has a 50 day moving average of C$22.77 and a 200 day moving average of C$22.81. The company has a market capitalization of C$5.30 billion, a PE ratio of -28.82, a price-to-earnings-growth ratio of 0.71 and a beta of 0.45. The company has a quick ratio of 1.23, a current ratio of 1.13 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.

Northland Power (TSE:NPI) last issued its quarterly earnings results on Wednesday, February 21st. The solar energy provider reported C($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.43 by C($0.92). The company 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 EPS for the current 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.