National Bank Financial Comments on Hydro One Limited’s Q1 2024 Earnings (TSE:H)

Hydro One Limited (TSE:H) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Hydro One in a note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings per share of $0.48 for the quarter. The consensus estimate for Hydro One’s current full-year earnings is $1.91 per share.

Several other analysts also recently issued reports on the company. TD Securities raised their price target on Hydro One from C$37.00 to C$39.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. CIBC lowered their price objective on Hydro One from C$40.00 to C$39.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Raymond James upped their price objective on Hydro One from C$40.00 to C$41.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. Scotiabank lowered their price objective on Hydro One from C$40.00 to C$38.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, National Bankshares upped their price objective on Hydro One from C$35.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 30th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$39.56.

Hydro One Stock Performance

Shares of TSE H opened at C$38.21 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.50 and a debt-to-equity ratio of 133.77. The firm’s 50-day moving average price is C$39.81 and its two-hundred day moving average price is C$38.80. Hydro One has a 52-week low of C$32.79 and a 52-week high of C$41.69. The stock has a market capitalization of C$22.89 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.90 and a beta of 0.31.

Hydro One (TSE:H) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C$0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.30. Hydro One had a net margin of 13.83% and a return on equity of 9.45%. The company had revenue of C$1.98 billion for the quarter.

Hydro One Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were paid a $0.296 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.18 annualized dividend and a dividend yield of 3.10%. Hydro One’s payout ratio is 65.75%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.