Algonquin Power & Utilities Corp. (TSE:AQN) Forecasted to Post FY2024 Earnings of $0.70 Per Share

Algonquin Power & Utilities Corp. (TSE:AQN) – Investment analysts at Raymond James lifted their FY2024 earnings estimates for Algonquin Power & Utilities in a report released on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the company will post earnings per share of $0.70 for the year, up from their previous forecast of $0.68. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.70 per share.

Separately, Desjardins decreased their price objective on Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating for the company in a research report on Tuesday.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at C$8.41 on Monday. The stock has a market cap of C$5.80 billion, a PE ratio of 210.25, a price-to-earnings-growth ratio of 1.07 and a beta of 0.45. Algonquin Power & Utilities has a 12 month low of C$6.75 and a 12 month high of C$12.31. 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 business has a fifty day simple moving average of C$8.22 and a 200-day simple moving average of C$8.12.

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

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.294 per share. This represents a $1.18 annualized dividend and a dividend yield of 13.98%. The ex-dividend date was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio is currently 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.