Equities Analysts Issue Forecasts for Algonquin Power & Utilities Corp.’s Q1 2024 Earnings (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Research analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Algonquin Power & Utilities in a research report issued on Sunday, April 14th. National Bank Financial analyst R. Merer forecasts that the company will post earnings per share of $0.22 for the quarter. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.70 per share. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q2 2024 earnings at $0.14 EPS, Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.67 EPS and FY2025 earnings at $0.73 EPS.

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

Separately, Desjardins upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Monday, March 11th.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at C$8.02 on Tuesday. The stock’s 50 day simple moving average is C$8.15 and its two-hundred day simple moving average is C$8.09. Algonquin Power & Utilities has a fifty-two week low of C$6.75 and a fifty-two week high of C$12.31. The stock has a market cap of C$5.53 billion, a price-to-earnings ratio of 200.50, a PEG ratio of 1.07 and a beta of 0.45. The company has a debt-to-equity ratio of 123.16, a quick ratio of 0.37 and a current ratio of 0.63.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.294 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.18 dividend on an annualized basis and a yield of 14.66%. Algonquin Power & Utilities’s payout ratio 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.