What is Raymond James' Estimate for TSE:AQN FY2024 Earnings?

Algonquin Power & Utilities Corp. (TSE:AQN - Free Report) - Analysts at Raymond James cut their FY2024 EPS estimates for shares of Algonquin Power & Utilities in a research report issued on Sunday, November 10th. Raymond James analyst D. Quezada now expects that the company will post earnings of $0.56 per share for the year, down from their prior forecast of $0.61. Raymond James currently has a "Hold" rating on the stock. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.47 per share. Raymond James also issued estimates for Algonquin Power & Utilities' Q3 2025 earnings at $0.11 EPS.

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

Several other equities analysts have also recently issued reports on the stock. Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a "hold" rating in a research note on Thursday, September 5th. 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. 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 research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$6.25.

Algonquin Power & Utilities Stock Performance

AQN traded down C$0.12 on Tuesday, hitting C$6.72. 556,039 shares of the company traded hands, compared to its average volume of 2,773,387. The stock has a market capitalization of C$5.15 billion, a PE ratio of 31.09, a PEG ratio of 1.07 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48. The company has a 50 day moving average of C$7.11 and a 200-day moving average of C$7.90. Algonquin Power & Utilities has a 12-month low of C$6.51 and a 12-month high of C$9.28.

Insider Buying and Selling at Algonquin Power & Utilities

In other Algonquin Power & Utilities news, Director Christopher Huskilson acquired 25,000 shares of the company's stock in a transaction dated Friday, November 8th. The stock was bought at an average price of C$6.65 per share, with a total value of C$166,252.50. 0.06% of the stock is owned by company insiders.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.088 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.24%. Algonquin Power & Utilities's dividend payout ratio (DPR) 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.