Algonquin Power & Utilities (AQN) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Algonquin Power & Utilities (NYSE:AQN) announced its earnings results on Thursday. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02, MarketWatch Earnings reports. The company had revenue of $366.24 million for the quarter, compared to analysts’ expectations of $332.38 million. Algonquin Power & Utilities had a return on equity of 10.60% and a net margin of 9.25%.
Algonquin Power & Utilities traded down $0.29, reaching $9.94, during mid-day trading on Friday, MarketBeat reports. 247,307 shares of the company’s stock were exchanged, compared to its average volume of 141,919. The firm has a market capitalization of $4.74 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78. Algonquin Power & Utilities has a one year low of $9.45 and a one year high of $11.34. The company has a current ratio of 1.25, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26.
Several brokerages recently issued reports on AQN. Canaccord Genuity began coverage on Algonquin Power & Utilities in a research report on Friday, May 4th. They set a “buy” rating on the stock. ValuEngine upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Finally, Zacks Investment Research upgraded Algonquin Power & Utilities from a “sell” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, May 2nd.
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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