Algonquin Power & Utilities Corp. Forecasted to Earn Q4 2023 Earnings of $0.16 Per Share (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN - Free Report) - Equities research analysts at National Bank Financial dropped their Q4 2023 EPS estimates for shares of Algonquin Power & Utilities in a report issued on Wednesday, January 10th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings of $0.16 per share for the quarter, down from their prior forecast of $0.21. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.73 per share. National Bank Financial also issued estimates for Algonquin Power & Utilities' FY2024 earnings at $0.70 EPS.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, November 10th. The company reported C$0.15 EPS for the quarter, hitting analysts' consensus estimates of C$0.15. The business had revenue of C$838.10 million during the quarter, compared to analysts' expectations of C$887.76 million. Algonquin Power & Utilities had a negative net margin of 8.35% and a negative return on equity of 4.18%.

Separately, Royal Bank of Canada lowered their price objective on shares of Algonquin Power & Utilities from C$8.00 to C$7.00 and set a "sector perform" rating for the company in a report on Monday, November 13th.

Algonquin Power & Utilities Trading Down 2.9 %

Shares of AQN opened at C$8.57 on Friday. The firm has a market cap of C$5.91 billion, a price-to-earnings ratio of -17.85, a PEG ratio of 1.07 and a beta of 0.47. The company has a debt-to-equity ratio of 122.88, a quick ratio of 0.37 and a current ratio of 0.67. Algonquin Power & Utilities has a fifty-two week low of C$6.75 and a fifty-two week high of C$12.31. The firm has a 50 day moving average price of C$8.32 and a 200-day moving average price of C$9.08.

Insider Activity at Algonquin Power & Utilities

In other news, Director Amee Chande purchased 12,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average cost of C$5.82 per share, for a total transaction of C$72,747.50. 0.06% of the stock is currently owned by company insiders.

Algonquin Power & Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a dividend of $0.30 per share. This is a positive change from Algonquin Power & Utilities's previous quarterly dividend of $0.14. This represents a $1.20 dividend on an annualized basis and a yield of 14.00%. The ex-dividend date is Thursday, December 28th. Algonquin Power & Utilities's dividend payout ratio is currently -120.83%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., a renewable energy and utility company, that provides energy and water solutions and services in North America and internationally. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment provides a portfolio of rate-regulated water, electricity, and gas utility services.

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