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

Posted by Michael Baxter on May 9th, 2024

Algonquin Power & Utilities (TSE:AQN – Get Free Report) will be releasing its earnings data before the market opens on Friday, May 10th. Analysts expect Algonquin Power & Utilities to post earnings of C$0.22 per share for the quarter.

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

Algonquin Power & Utilities Stock Up 0.1 %

AQN stock opened at C$9.09 on Thursday. The company has a 50 day moving average of C$8.35 and a two-hundred day moving average of C$8.19. 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 12-month low of C$6.75 and a 12-month high of C$12.31. The company has a market cap of C$6.27 billion, a price-to-earnings ratio of 227.25, a PEG ratio of 1.07 and a beta of 0.47.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.294 dividend. This represents a $1.18 annualized dividend and a dividend yield of 12.94%. The ex-dividend date was Wednesday, March 27th. Algonquin Power & Utilities’s payout ratio is presently 1,475.00%.

Wall Street Analysts Forecast Growth

Separately, Desjardins lowered their target price on shares of Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating on the stock in a research note on Tuesday, April 30th.

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Algonquin Power & Utilities Company Profile

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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.