National Bank Financial Comments on Algonquin Power & Utilities Corp.’s Q1 2024 Earnings (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Equities researchers at National Bank Financial issued their Q1 2024 earnings per share estimates for Algonquin Power & Utilities in a report issued on Sunday, April 14th. National Bank Financial analyst R. Merer anticipates that the company will post earnings of $0.22 per share for the quarter. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.70 per share. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q2 2024 earnings at $0.14 EPS, Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.67 EPS and FY2025 earnings at $0.73 EPS.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings data on Friday, March 8th. The company reported C$0.22 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.19 by C$0.03. Algonquin Power & Utilities had a negative return on equity of 0.47% and a net margin of 1.06%. The firm had revenue of C$908.00 million for the quarter, compared to analyst estimates of C$1 billion.

Separately, Desjardins raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Monday, March 11th.

Algonquin Power & Utilities Trading Up 1.3 %

Shares of AQN stock opened at C$7.94 on Tuesday. The business’s fifty day moving average price is C$8.16 and its 200 day moving average price is C$8.09. Algonquin Power & Utilities has a 1-year low of C$6.75 and a 1-year high of C$12.31. The firm has a market capitalization of C$5.47 billion, a PE ratio of 198.50, a P/E/G ratio of 1.07 and a beta of 0.45. The company has a debt-to-equity ratio of 123.16, a current ratio of 0.63 and a quick ratio of 0.37.

Algonquin Power & Utilities Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.294 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.18 dividend on an annualized basis and a yield of 14.81%. Algonquin Power & Utilities’s payout ratio is 1,475.00%.

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.