Desjardins Has Pessimistic View of TSE:AQN FY2024 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN - Free Report) - Equities research analysts at Desjardins reduced their FY2024 earnings estimates for shares of Algonquin Power & Utilities in a research note issued to investors on Tuesday, November 5th. Desjardins analyst B. Stadler now forecasts that the company will earn $0.48 per share for the year, down from their previous forecast of $0.56. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.47 per share.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company cut shares of Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 12th. Raymond James cut shares of Algonquin Power & Utilities from a "moderate buy" rating to a "hold" rating in a research report on Monday, August 12th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research report on Thursday, September 5th. Finally, National Bank Financial upgraded shares of Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$6.25.

Algonquin Power & Utilities Price Performance

Shares of Algonquin Power & Utilities stock traded up C$0.01 on Friday, hitting C$6.67. 1,909,000 shares of the company traded hands, compared to its average volume of 2,784,246. The firm's 50-day simple moving average is C$7.12 and its 200 day simple moving average is C$7.93. The company has a current ratio of 0.97, a quick ratio of 0.37 and a debt-to-equity ratio of 108.48. The company has a market cap of C$5.12 billion, a P/E ratio of 30.27, a P/E/G ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a 12-month low of C$6.51 and a 12-month high of C$9.28.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, August 9th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.11 by C$0.01. The firm had revenue of C$819.06 million for the quarter, compared to analysts' expectations of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%.

Algonquin Power & Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.088 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities's payout ratio is presently 163.64%.

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.