What is Scotiabank’s Estimate for TSE:AQN FY2024 Earnings?

Algonquin Power & Utilities Corp. (TSE:AQN) – Research analysts at Scotiabank decreased their FY2024 earnings per share estimates for Algonquin Power & Utilities in a report issued on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will post earnings per share of $0.55 for the year, down from their previous forecast of $0.60. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Scotiabank also issued estimates for Algonquin Power & Utilities’ FY2025 earnings at $0.40 EPS and FY2026 earnings at $0.50 EPS.

Algonquin Power & Utilities Stock Up 0.3 %

TSE AQN opened at C$6.41 on Thursday. Algonquin Power & Utilities has a 12 month low of C$6.12 and a 12 month high of C$9.28. The company has a market capitalization of C$4.92 billion, a P/E ratio of 29.14, a PEG ratio of 1.07 and a beta of 0.52. The company’s 50 day simple moving average is C$6.58 and its 200 day simple moving average is C$7.31. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.088 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.49%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Insider Transactions at Algonquin Power & Utilities

In other Algonquin Power & Utilities news, Director David Levenson bought 62,000 shares of Algonquin Power & Utilities stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of C$6.45 per share, for a total transaction of C$399,900.00. Also, Director Dilek Samil sold 17,400 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of C$6.46, for a total value of C$112,421.40. Corporate insiders own 0.06% of the company’s stock.

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.