Northland Power (TSE:NPI) Hits New 1-Year Low After Analyst Downgrade

Northland Power Inc. (TSE:NPI)’s share price reached a new 52-week low during trading on Tuesday after Raymond James Financial lowered their price target on the stock from C$25.00 to C$23.00. The company traded as low as C$16.13 and last traded at C$16.19, with a volume of 2498014 shares. The stock had previously closed at C$16.73.

Several other brokerages also recently commented on NPI. CIBC lowered their target price on Northland Power from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Scotiabank decreased their price target on shares of Northland Power from C$24.00 to C$23.00 in a report on Friday. National Bankshares dropped their price objective on shares of Northland Power from C$27.00 to C$25.00 in a research note on Friday. ATB Capital decreased their target price on shares of Northland Power from C$26.00 to C$23.00 in a research note on Friday. Finally, Desjardins downgraded shares of Northland Power from a “moderate buy” rating to a “hold” rating in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.39.

Northland Power Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.17 and a debt-to-equity ratio of 181.28. The stock has a market cap of C$4.24 billion, a P/E ratio of -14.88, a P/E/G ratio of 0.71 and a beta of 0.87. The firm has a 50 day moving average price of C$23.31 and a 200 day moving average price of C$22.38.

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

Northland Power Company Profile

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.