Algonquin Power & Utilities Corp. to Post Q3 2024 Earnings of $0.14 Per Share, National Bank Financial Forecasts (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Stock analysts at National Bank Financial lifted their Q3 2024 earnings per share estimates for Algonquin Power & Utilities in a research note issued to investors on Monday, July 8th. National Bank Financial analyst R. Merer now expects that the company will earn $0.14 per share for the quarter, up from their prior forecast of $0.12. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.65 per share. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.63 EPS and FY2025 earnings at $0.70 EPS.

Separately, Desjardins reduced their target price on Algonquin Power & Utilities from C$5.75 to C$5.50 and set a “hold” rating for the company in a report on Tuesday, April 30th.

Algonquin Power & Utilities Stock Up 0.6 %

Shares of TSE AQN opened at C$8.58 on Thursday. Algonquin Power & Utilities has a 52-week low of C$6.75 and a 52-week high of C$11.22. The company has a quick ratio of 0.37, a current ratio of 0.98 and a debt-to-equity ratio of 141.91. The company’s 50-day simple moving average is C$8.48 and its 200-day simple moving average is C$8.33. The firm has a market cap of C$5.92 billion, a price-to-earnings ratio of -12.81, a price-to-earnings-growth ratio of 1.07 and a beta of 0.47.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, May 10th. The company reported C$0.19 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.01). Algonquin Power & Utilities had a negative return on equity of 5.84% and a negative net margin of 12.44%. The business had revenue of C$993.71 million during the quarter, compared to analyst estimates of C$1.11 billion.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 28th. This represents a $0.60 annualized dividend and a yield of 6.99%. Algonquin Power & Utilities’s dividend payout ratio is presently -89.55%.

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.