Q2 2024 EPS Estimates for Algonquin Power & Utilities Corp. Decreased by National Bank Financial (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Stock analysts at National Bank Financial dropped their Q2 2024 earnings per share (EPS) estimates for Algonquin Power & Utilities in a research note issued on Monday, July 8th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings per share of $0.12 for the quarter, down from their prior forecast of $0.14. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.65 per share.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, May 10th. The company reported C$0.19 earnings per share (EPS) 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 company had revenue of C$993.71 million for the quarter, compared to analysts’ expectations of C$1.11 billion.

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

Algonquin Power & Utilities Stock Performance

TSE AQN opened at C$8.19 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.98 and a debt-to-equity ratio of 141.91. Algonquin Power & Utilities has a 52-week low of C$6.75 and a 52-week high of C$11.22. The business’s 50-day moving average price is C$8.50 and its 200 day moving average price is C$8.33. The firm has a market cap of C$5.65 billion, a P/E ratio of -12.22, a P/E/G ratio of 1.07 and a beta of 0.47.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.15 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a yield of 7.33%. Algonquin Power & Utilities’s payout ratio is currently -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.