Desjardins Weighs in on Algonquin Power & Utilities Corp.'s FY2023 Earnings (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN - Free Report) - Investment analysts at Desjardins dropped their FY2023 EPS estimates for shares of Algonquin Power & Utilities in a report released on Thursday, February 1st. Desjardins analyst B. Stadler now forecasts that the company will post earnings per share of $0.63 for the year, down from their previous estimate of $0.69. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.71 per share. Desjardins also issued estimates for Algonquin Power & Utilities' Q4 2023 earnings at $0.15 EPS and FY2024 earnings at $0.63 EPS.

Separately, Royal Bank of Canada lowered their price target 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 Stock Performance

Shares of Algonquin Power & Utilities stock opened at C$8.12 on Friday. The company has a debt-to-equity ratio of 122.88, a current ratio of 0.67 and a quick ratio of 0.37. The firm has a market cap of C$5.60 billion, a P/E ratio of -16.92, a P/E/G ratio of 1.07 and a beta of 0.47. The firm has a 50 day simple moving average of C$8.38 and a 200 day simple moving average of C$8.81. Algonquin Power & Utilities has a fifty-two week low of C$6.75 and a fifty-two week high of C$12.31.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last issued its quarterly earnings results on Friday, November 10th. The company reported C$0.15 earnings per share for the quarter, meeting analysts' consensus estimates of C$0.15. The business had revenue of C$838.10 million during the quarter, compared to analyst estimates 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%.

Insiders Place Their Bets

In other Algonquin Power & Utilities news, Director Amee Chande bought 12,500 shares of the stock in a transaction on Wednesday, November 15th. The stock was purchased at an average price of C$5.82 per share, with a total value of C$72,747.50. Company insiders own 0.06% of the company's stock.

Algonquin Power & Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Friday, December 29th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 14.78%. The ex-dividend date was Thursday, December 28th. This is a positive change from Algonquin Power & Utilities's previous quarterly dividend of $0.14. Algonquin Power & Utilities's 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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