Algonquin Power & Utilities Corp. (TSE:AQN) Forecasted to Post Q3 2024 Earnings of $0.14 Per Share

Algonquin Power & Utilities Corp. (TSE:AQNFree Report) – National Bank Financial boosted their Q3 2024 earnings estimates for shares of Algonquin Power & Utilities in a report issued on Monday, July 8th. National Bank Financial analyst R. Merer now expects that the company will post earnings per share of $0.14 for the quarter, up from their previous estimate 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 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.

Read Our Latest Research Report on AQN

Algonquin Power & Utilities Stock Performance

Shares of TSE AQN opened at C$8.34 on Thursday. Algonquin Power & Utilities has a 1 year low of C$6.75 and a 1 year high of C$11.22. 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 stock has a fifty day moving average price of C$8.50 and a two-hundred day moving average price of C$8.33. The firm has a market cap of C$5.75 billion, a P/E ratio of -12.45, a PEG ratio of 1.07 and a beta of 0.47.

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

Algonquin Power & Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date of this dividend is Friday, June 28th. Algonquin Power & Utilities’s payout ratio is -89.55%.

About Algonquin Power & Utilities

(Get Free Report)

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.

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Earnings History and Estimates for Algonquin Power & Utilities (TSE:AQN)

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