Algonquin Power & Utilities Corp. (TSE:AQN) Expected to Post FY2024 Earnings of $0.70 Per Share

Algonquin Power & Utilities Corp. (TSE:AQN) – Raymond James upped their FY2024 earnings estimates for Algonquin Power & Utilities in a research report issued to clients and investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the company will post earnings of $0.70 per share 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.

Algonquin Power & Utilities (TSE:AQN) last announced 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 firm had revenue of C$908.00 million during 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 research report on Monday, March 11th.

Algonquin Power & Utilities Trading Up 1.3 %

AQN opened at C$8.48 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.63 and a debt-to-equity ratio of 123.16. Algonquin Power & Utilities has a twelve month low of C$6.75 and a twelve month high of C$12.31. The stock has a market capitalization of C$5.85 billion, a price-to-earnings ratio of 212.00, a P/E/G ratio of 1.07 and a beta of 0.45. The company has a 50-day simple moving average of C$8.22 and a 200 day simple moving average of C$8.12.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.294 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 13.87%. Algonquin Power & Utilities’s payout ratio is presently 1,475.00%.

Algonquin Power & Utilities Company Profile

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.