Q3 2024 EPS Estimates for Algonquin Power & Utilities Corp. (TSE:AQN) Boosted by National Bank Financial

Algonquin Power & Utilities Corp. (TSE:AQN) – Research analysts at National Bank Financial upped their Q3 2024 EPS estimates for Algonquin Power & Utilities in a research report issued on Monday, August 12th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of $0.15 for the quarter, up from their prior forecast of $0.14. National Bank Financial currently has a “Strong-Buy” rating on the stock. 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’ FY2024 earnings at $0.64 EPS and FY2026 earnings at $0.62 EPS.

Several other equities research analysts also recently commented on the company. Desjardins cut their price objective 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. Wells Fargo & Company cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Raymond James downgraded Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$7.08.

Algonquin Power & Utilities Stock Performance

AQN opened at C$7.14 on Wednesday. The company has a debt-to-equity ratio of 141.91, a quick ratio of 0.37 and a current ratio of 0.98. The business’s 50-day simple moving average is C$8.15 and its 200 day simple moving average is C$8.29. The firm has a market capitalization of C$4.92 billion, a PE ratio of -10.66, a PEG ratio of 1.07 and a beta of 0.47. Algonquin Power & Utilities has a 52-week low of C$6.75 and a 52-week high of C$10.42.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Friday, September 27th. Algonquin Power & Utilities’s dividend payout ratio is -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.