Northwest Natural (NYSE:NWN) Updates Q3 Earnings Guidance

Northwest Natural (NYSE:NWN) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of ($0.86)-($0.74) for the period, compared to the consensus estimate of ($0.77). Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Northwest Natural Price Performance

Shares of NWN stock traded down $1.44 during mid-day trading on Friday, reaching $38.92. The company’s stock had a trading volume of 423,438 shares, compared to its average volume of 234,778. The firm’s 50-day moving average is $37.11 and its two-hundred day moving average is $37.21. The company has a market cap of $1.48 billion, a P/E ratio of 17.07 and a beta of 0.57. Northwest Natural has a 1-year low of $34.82 and a 1-year high of $42.92. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.93 and a current ratio of 1.15.

Northwest Natural (NYSE:NWN) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. Northwest Natural had a return on equity of 6.76% and a net margin of 7.36%. The business had revenue of $211.70 million for the quarter, compared to analyst estimates of $231.99 million. During the same quarter in the previous year, the firm earned $0.03 EPS. Northwest Natural’s quarterly revenue was down 11.0% on a year-over-year basis. On average, research analysts predict that Northwest Natural will post 2.28 earnings per share for the current year.

Northwest Natural Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.488 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.95 dividend on an annualized basis and a yield of 5.02%. Northwest Natural’s dividend payout ratio is 85.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NWN shares. StockNews.com cut Northwest Natural from a hold rating to a sell rating in a report on Tuesday, July 16th. Stifel Nicolaus increased their price objective on shares of Northwest Natural from $39.00 to $40.00 and gave the stock a buy rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $41.40.

Northwest Natural Company Profile

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.