Scotiabank Issues Pessimistic Outlook for TSE:AQN Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Research analysts at Scotiabank cut their FY2024 EPS estimates for Algonquin Power & Utilities in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will earn $0.55 per share for the year, down from their prior forecast of $0.60. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Scotiabank also issued estimates for Algonquin Power & Utilities’ FY2025 earnings at $0.40 EPS and FY2026 earnings at $0.50 EPS.

Algonquin Power & Utilities Stock Down 2.4 %

Shares of TSE:AQN opened at C$6.18 on Thursday. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97. Algonquin Power & Utilities has a 52-week low of C$6.12 and a 52-week high of C$9.28. The firm has a market capitalization of C$4.74 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.07 and a beta of 0.52. The stock has a 50 day moving average price of C$6.57 and a 200-day moving average price of C$7.30.

Algonquin Power & Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.088 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 163.64%.

Insider Transactions at Algonquin Power & Utilities

In other news, Director Dilek Samil sold 17,400 shares of Algonquin Power & Utilities stock in a transaction dated Monday, December 16th. The stock was sold at an average price of C$6.46, for a total value of C$112,421.40. Also, Director David Levenson acquired 62,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of C$6.45 per share, for a total transaction of C$399,900.00. Insiders own 0.06% of the company’s stock.

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.