Algonquin Power & Utilities (TSE:AQN) Given New C$6.00 Price Target at Canadian Imperial Bank of Commerce

Algonquin Power & Utilities (TSE:AQN) had its target price reduced by investment analysts at Canadian Imperial Bank of Commerce from C$6.25 to C$6.00 in a report issued on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential downside of 18.26% from the stock’s current price.

Algonquin Power & Utilities Stock Performance

Shares of AQN traded down C$0.03 during trading hours on Tuesday, hitting C$7.34. The stock had a trading volume of 652,349 shares, compared to its average volume of 2,438,642. The firm has a market capitalization of C$5.65 billion, a PE ratio of 40.78, a PEG ratio of 1.07 and a beta of 1.39. The company has a debt-to-equity ratio of 143.60, a current ratio of 0.88 and a quick ratio of 0.37. Algonquin Power & Utilities has a 12 month low of C$7.26 and a 12 month high of C$9.69. The stock has a fifty day moving average price of C$7.98 and a 200 day moving average price of C$8.27.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, August 7th. The company reported C$0.06 earnings per share (EPS) for the quarter. Algonquin Power & Utilities had a return on equity of 3.20% and a net margin of 5.86%.The business had revenue of C$772.76 million during the quarter. Analysts anticipate that Algonquin Power & Utilities will post 0.4650555 EPS for the current year.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.