Desjardins Trims Algonquin Power & Utilities (TSE:AQN) Target Price to C$5.50

Algonquin Power & Utilities (TSE:AQN) had its price target reduced by stock analysts at Desjardins from C$5.75 to C$5.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price objective suggests a potential downside of 36.05% from the stock’s previous close. Desjardins also issued estimates for Algonquin Power & Utilities’ Q1 2024 earnings at $0.19 EPS and FY2024 earnings at $0.59 EPS.

Algonquin Power & Utilities Price Performance

Shares of TSE AQN opened at C$8.60 on Tuesday. The business’s 50 day moving average is C$8.23 and its 200-day moving average is C$8.12. The firm has a market cap of C$5.93 billion, a P/E ratio of 215.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.45. Algonquin Power & Utilities has a 1-year low of C$6.75 and a 1-year high of C$12.31. The company has a current ratio of 0.63, a quick ratio of 0.37 and a debt-to-equity ratio of 123.16.

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, topping the consensus estimate of C$0.19 by C$0.03. The firm 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%. Equities research analysts predict that Algonquin Power & Utilities will post 0.6970954 earnings per share for the current year.

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.