Algonquin Power & Utilities (TSE:AQN) Releases Quarterly Earnings Results

Algonquin Power & Utilities (TSE:AQN) announced its quarterly earnings results on Friday. The company reported C$0.16 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$914.68 million for the quarter. Algonquin Power & Utilities had a net margin of 5.86% and a return on equity of 3.20%.

Algonquin Power & Utilities Stock Down 1.0%

AQN traded down C$0.08 during midday trading on Friday, reaching C$7.80. The company’s stock had a trading volume of 10,979,822 shares, compared to its average volume of 2,589,656. Algonquin Power & Utilities has a 1 year low of C$6.96 and a 1 year high of C$9.69. The company has a current ratio of 0.88, a quick ratio of 0.37 and a debt-to-equity ratio of 143.60. The firm has a market capitalization of C$6.01 billion, a price-to-earnings ratio of 43.33, a PEG ratio of 1.07 and a beta of 1.12. The stock’s 50-day moving average is C$7.47 and its 200-day moving average is C$8.24.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce decreased their target price on Algonquin Power & Utilities from C$6.25 to C$6.00 in a research report on Tuesday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Algonquin Power & Utilities presently has an average rating of “Buy” and a consensus target price of C$7.33.

Algonquin Power & Utilities Company Profile

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.