National Bank Financial Estimates Hydro One FY2024 Earnings

Hydro One Limited (TSE:H) – Stock analysts at National Bank Financial lowered their FY2024 earnings estimates for Hydro One in a report issued on Thursday, November 7th. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $1.88 for the year, down from their prior forecast of $1.89. The consensus estimate for Hydro One’s current full-year earnings is $2.06 per share.

Hydro One (TSE:H) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.49 earnings per share for the quarter, beating the consensus estimate of C$0.48 by C$0.01. The business had revenue of C$2.03 billion for the quarter. Hydro One had a net margin of 13.85% and a return on equity of 9.61%.

H has been the subject of several other research reports. CIBC upped their price target on Hydro One from C$41.00 to C$44.00 in a report on Thursday, August 15th. BMO Capital Markets upped their target price on shares of Hydro One from C$42.00 to C$44.00 in a research note on Thursday, September 5th. Wells Fargo & Company increased their target price on shares of Hydro One from C$42.00 to C$46.00 in a report on Monday, August 19th. National Bankshares boosted their price target on shares of Hydro One from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Finally, Raymond James increased their price objective on shares of Hydro One from C$41.00 to C$45.00 in a research note on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$43.00.

Hydro One Stock Performance

Shares of H opened at C$44.41 on Monday. The firm has a market capitalization of C$26.62 billion, a P/E ratio of 23.75, a P/E/G ratio of 3.17 and a beta of 0.34. Hydro One has a 52 week low of C$37.04 and a 52 week high of C$48.05. The stock has a 50 day moving average price of C$45.64 and a two-hundred day moving average price of C$42.51. The company has a debt-to-equity ratio of 137.11, a quick ratio of 0.30 and a current ratio of 0.40.

Hydro One Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be issued a $0.314 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.83%. Hydro One’s dividend payout ratio (DPR) is presently 67.38%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.