Algonquin Power & Utilities (AQN) Scheduled to Post Quarterly Earnings on Thursday

Algonquin Power & Utilities (NYSE:AQN) will announce its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $598.60 million during the quarter, compared to the consensus estimate of $635.95 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, analysts expect Algonquin Power & Utilities to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Algonquin Power & Utilities Trading Up 1.3 %

AQN opened at $4.80 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.78 and a debt-to-equity ratio of 1.08. Algonquin Power & Utilities has a 12 month low of $4.71 and a 12 month high of $6.79. The firm has a market cap of $3.68 billion, a P/E ratio of 30.00 and a beta of 0.68. The stock has a 50-day moving average of $5.22 and a 200 day moving average of $5.76.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date was Monday, September 30th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 162.50%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Scotiabank cut their price target on shares of Algonquin Power & Utilities from $6.50 to $5.75 and set a “sector perform” rating for the company in a report on Tuesday, August 13th. Raymond James downgraded shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $7.75 to $7.00 in a report on Monday, August 12th. Desjardins reduced their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus price target of $6.23.

Algonquin Power & Utilities Company Profile

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.