Desjardins Research Analysts Decrease Earnings Estimates for Algonquin Power & Utilities Corp. (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Equities research analysts at Desjardins reduced their Q1 2024 earnings per share estimates for shares of Algonquin Power & Utilities in a research report issued on Tuesday, April 30th. Desjardins analyst B. Stadler now anticipates that the company will post earnings per share of $0.19 for the quarter, down from their prior estimate of $0.24. Desjardins has a “Hold” rating and a $5.50 price objective on the stock. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.70 per share. Desjardins also issued estimates for Algonquin Power & Utilities’ FY2024 earnings at $0.59 EPS.

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

Algonquin Power & Utilities Stock Performance

Shares of TSE AQN opened at C$8.60 on Wednesday. The stock has a fifty day moving average price of C$8.23 and a two-hundred day moving average price of C$8.12. The company has a debt-to-equity ratio of 123.16, a quick ratio of 0.37 and a current ratio of 0.63. The firm has a market cap of C$5.93 billion, a P/E ratio of 215.00, a PEG ratio of 1.07 and a beta of 0.45. Algonquin Power & Utilities has a 1 year low of C$6.75 and a 1 year high of C$12.31.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.294 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 13.67%. 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.