Algonquin Power & Utilities (AQN) to Release Earnings on Friday

Algonquin Power & Utilities (NYSE:AQN) will be releasing its earnings data before the market opens on Friday, May 10th. Analysts expect Algonquin Power & Utilities to post earnings of $0.16 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The firm had revenue of $666.90 million for the quarter, compared to analyst estimates of $661.73 million. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, analysts expect Algonquin Power & Utilities to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Algonquin Power & Utilities Stock Down 0.2 %

AQN opened at $6.61 on Thursday. The business’s fifty day simple moving average is $6.14 and its 200 day simple moving average is $6.04. Algonquin Power & Utilities has a 52 week low of $4.90 and a 52 week high of $9.14. The company has a quick ratio of 0.50, a current ratio of 0.63 and a debt-to-equity ratio of 1.23. The stock has a market cap of $4.56 billion, a PE ratio of 220.33 and a beta of 0.66.

Algonquin Power & Utilities Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.1085 dividend. This represents a $0.43 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio is currently 1,433.33%.

Wall Street Analysts Forecast Growth

AQN has been the subject of a number of recent research reports. StockNews.com upgraded shares of Algonquin Power & Utilities to a “sell” rating in a report on Thursday, May 2nd. Desjardins upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating and upped their price target for the company from $4.75 to $5.75 in a research report on Monday, March 11th. Scotiabank dropped their target price on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, TD Securities lifted their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.67.

About Algonquin Power & Utilities

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.