Algonquin Power & Utilities (AQN) Set to Announce Quarterly Earnings on Friday

Algonquin Power & Utilities (NYSE:AQN) will announce its earnings results before the market opens on Friday, May 10th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The business had revenue of $666.90 million during the quarter, compared to the consensus estimate of $661.73 million. During the same period in the previous year, the business earned $0.22 earnings per share. The company’s revenue was down 10.8% on a year-over-year basis. On average, analysts expect Algonquin Power & Utilities to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Algonquin Power & Utilities Stock Down 1.1 %

Shares of AQN opened at $6.63 on Wednesday. Algonquin Power & Utilities has a one year low of $4.90 and a one year high of $9.14. The company has a market cap of $4.57 billion, a P/E ratio of 220.83 and a beta of 0.66. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.63 and a quick ratio of 0.50. The firm has a 50 day simple moving average of $6.12 and a two-hundred day simple moving average of $6.04.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.1085 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.43 annualized dividend and a dividend yield of 6.55%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 1,433.33%.

Analyst Ratings Changes

AQN has been the subject of several research analyst reports. Desjardins upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating and upped their price target for the stock from $4.75 to $5.75 in a report on Monday, March 11th. CIBC upped their price target on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. TD Securities boosted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Monday, March 11th. StockNews.com raised shares of Algonquin Power & Utilities to a “sell” rating in a research note on Thursday, May 2nd. Finally, National Bankshares reduced their price objective on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating on the stock in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.67.

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.