CIBC Has Lowered Expectations for Northland Power (TSE:NPI) Stock Price

Northland Power (TSE:NPI) had its price objective decreased by equities researchers at CIBC from C$29.00 to C$25.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 36.09% from the stock’s previous close.

Several other equities analysts have also recently issued reports on NPI. Raymond James Financial lowered their price target on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. Desjardins cut their price target on shares of Northland Power from C$28.00 to C$27.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Finally, BMO Capital Markets lowered shares of Northland Power from a “strong-buy” rating to a “hold” rating and cut their target price for the company from C$31.00 to C$25.00 in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$26.31.

Northland Power Stock Performance

Shares of Northland Power stock traded up C$0.13 during trading hours on Friday, reaching C$18.37. The company’s stock had a trading volume of 2,960,208 shares, compared to its average volume of 949,595. The company has a debt-to-equity ratio of 181.28, a quick ratio of 1.23 and a current ratio of 1.17. Northland Power has a one year low of C$16.14 and a one year high of C$25.99. The company’s 50 day simple moving average is C$24.01 and its 200 day simple moving average is C$22.37. The stock has a market cap of C$4.80 billion, a P/E ratio of -87.48, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87.

Northland Power (TSE:NPI) last released its quarterly earnings data on Thursday, November 13th. The solar energy provider reported C($1.58) earnings per share for the quarter. The firm had revenue of C$559.39 million during the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.

About Northland Power

Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company’s largest segment over the long term.