Algonquin Power & Utilities Corp. (TSE:AQN) Forecasted to Earn FY2024 Earnings of $0.70 Per Share

Algonquin Power & Utilities Corp. (TSE:AQN - Free Report) - Equities research analysts at Raymond James increased their FY2024 earnings per share (EPS) estimates for Algonquin Power & Utilities in a research note issued on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the company will post earnings of $0.70 per share for the year, up from their previous estimate of $0.68. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.70 per share.

Separately, Desjardins raised shares of Algonquin Power & Utilities from a "sell" rating to a "hold" rating in a research report on Monday, March 11th.

Algonquin Power & Utilities Stock Up 1.3 %

TSE AQN traded up C$0.11 during trading hours on Monday, reaching C$8.48. 1,290,857 shares of the company's stock were exchanged, compared to its average volume of 2,737,251. The company has a debt-to-equity ratio of 123.16, a quick ratio of 0.37 and a current ratio of 0.63. Algonquin Power & Utilities has a one year low of C$6.75 and a one year high of C$12.31. The company's 50-day moving average is C$8.22 and its two-hundred day moving average is C$8.12. The company has a market capitalization of C$5.85 billion, a price-to-earnings ratio of 212.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.45.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, March 8th. The company reported C$0.22 EPS for the quarter, topping analysts' consensus estimates of C$0.19 by C$0.03. Algonquin Power & Utilities had a negative return on equity of 0.47% and a net margin of 1.06%. The company had revenue of C$908.00 million for the quarter, compared to analyst estimates of C$1 billion.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.294 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.18 annualized dividend and a dividend yield of 13.87%. Algonquin Power & Utilities's dividend payout ratio is currently 1,475.00%.

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.