Hydro One Limited (TSE:H) Forecasted to Earn Q1 2024 Earnings of $0.48 Per Share

Hydro One Limited (TSE:H) – Raymond James decreased their Q1 2024 earnings per share estimates for Hydro One in a report released on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the company will post earnings per share of $0.48 for the quarter, down from their prior estimate of $0.50. Raymond James currently has a “Market Perform” rating and a $41.00 target price on the stock. The consensus estimate for Hydro One’s current full-year earnings is $1.91 per share. Raymond James also issued estimates for Hydro One’s Q3 2024 earnings at $0.58 EPS and FY2024 earnings at $1.91 EPS.

Other analysts also recently issued research reports about the company. Royal Bank of Canada raised their price target on Hydro One from C$37.00 to C$41.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Scotiabank cut their price target on Hydro One from C$40.00 to C$38.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. TD Securities raised their price target on Hydro One from C$37.00 to C$39.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. National Bankshares lifted their target price on Hydro One from C$35.00 to C$38.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 30th. Finally, CIBC cut their target price on Hydro One from C$40.00 to C$39.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$39.56.

Hydro One Trading Up 1.0 %

TSE:H opened at C$38.21 on Monday. The company has a market cap of C$22.89 billion, a PE ratio of 21.11, a P/E/G ratio of 2.90 and a beta of 0.31. Hydro One has a 52 week low of C$32.79 and a 52 week high of C$41.69. The company has a quick ratio of 0.30, a current ratio of 0.50 and a debt-to-equity ratio of 133.77. The business’s 50 day moving average is C$39.76 and its two-hundred day moving average is C$38.87.

Hydro One (TSE:H) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C$0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.30. Hydro One had a return on equity of 9.45% and a net margin of 13.83%. The firm had revenue of C$1.98 billion during the quarter.

Hydro One Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were issued a $0.296 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.18 annualized dividend and a yield of 3.10%. Hydro One’s dividend payout ratio (DPR) is 65.75%.

Hydro One Company Profile

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.