FY2024 EPS Estimates for Algonquin Power & Utilities Corp. (TSE:AQN) Increased by Analyst

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

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

Algonquin Power & Utilities Price Performance

Shares of TSE:AQN opened at C$8.41 on Monday. The firm has a 50 day simple moving average of C$8.22 and a 200 day simple moving average of C$8.12. The company has a market cap of C$5.80 billion, a price-to-earnings ratio of 210.25, a PEG ratio of 1.07 and a beta of 0.45. The company has a debt-to-equity ratio of 123.16, a current ratio of 0.63 and a quick ratio of 0.37. Algonquin Power & Utilities has a one year low of C$6.75 and a one year high of C$12.31.

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

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.294 dividend. This represents a $1.18 annualized dividend and a yield of 13.98%. The ex-dividend date of this dividend was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 1,475.00%.

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.