Hydro One Limited (TSE:H) Expected to Post Q1 2024 Earnings of $0.48 Per Share

Hydro One Limited (TSE:H) – National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Hydro One in a research report issued to clients and investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.48 for the quarter. The consensus estimate for Hydro One’s current full-year earnings is $1.91 per share.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company lifted their target price on Hydro One from C$39.00 to C$40.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 14th. Royal Bank of Canada boosted their target price on Hydro One from C$37.00 to C$41.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. TD Securities upped their price objective on Hydro One from C$37.00 to C$39.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Raymond James boosted their target price on Hydro One from C$40.00 to C$41.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. Finally, National Bankshares boosted their target price on Hydro One from C$35.00 to C$38.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 30th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$39.56.

Hydro One Stock Performance

Shares of Hydro One stock opened at C$37.85 on Thursday. Hydro One has a one year low of C$32.79 and a one year high of C$41.69. The company has a market cap of C$22.68 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.90 and a beta of 0.31. The company has a debt-to-equity ratio of 133.77, a quick ratio of 0.30 and a current ratio of 0.50. The business’s 50 day moving average price is C$39.91 and its 200 day moving average price is C$38.81.

Hydro One (TSE:H) last released its earnings results on Tuesday, February 13th. The company reported C$0.30 earnings per share for the quarter, meeting the consensus estimate of C$0.30. The business had revenue of C$1.98 billion for the quarter. Hydro One had a return on equity of 9.45% and a net margin of 13.83%.

Hydro One Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Tuesday, March 12th. Hydro One’s dividend payout ratio is presently 65.75%.

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.