National Bank Financial Comments on Algonquin Power & Utilities Corp.’s Q1 2024 Earnings (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Stock analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Algonquin Power & Utilities in a research note issued to investors on Sunday, April 14th. National Bank Financial analyst R. Merer forecasts that the company will post earnings per share of $0.22 for the quarter. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.70 per share. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q2 2024 earnings at $0.14 EPS, Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.67 EPS and FY2025 earnings at $0.73 EPS.

Algonquin Power & Utilities (TSE:AQN) last issued its earnings results on Friday, March 8th. The company reported C$0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.19 by C$0.03. The business had revenue of C$908.00 million for the quarter, compared to analysts’ expectations of C$1 billion. Algonquin Power & Utilities had a negative return on equity of 0.47% and a net margin of 1.06%.

Separately, Desjardins upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Monday, March 11th.

Algonquin Power & Utilities Stock Performance

Shares of TSE AQN opened at C$7.94 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.63 and a debt-to-equity ratio of 123.16. The stock has a market capitalization of C$5.47 billion, a price-to-earnings ratio of 198.50, a PEG ratio of 1.07 and a beta of 0.45. The stock’s fifty day simple moving average is C$8.16 and its 200 day simple moving average is C$8.09. Algonquin Power & Utilities has a 52-week low of C$6.75 and a 52-week high of C$12.31.

Algonquin Power & Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.294 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.18 annualized dividend and a dividend yield of 14.81%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 1,475.00%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.