Algonquin Power & Utilities Corp. (TSE:AQN - Free Report) - Desjardins decreased their Q1 2024 earnings estimates for shares of Algonquin Power & Utilities in a report issued on Tuesday, April 30th. Desjardins analyst B. Stadler now expects that the company will post earnings per share of $0.19 for the quarter, down from their previous estimate of $0.24. Desjardins has a "Hold" rating and a $5.50 price objective on the stock. The consensus estimate for Algonquin Power & Utilities' current full-year earnings is $0.70 per share. Desjardins also issued estimates for Algonquin Power & Utilities' FY2024 earnings at $0.59 EPS.
Algonquin Power & Utilities (TSE:AQN - Get Free Report) last released its earnings results on Friday, March 8th. The company reported C$0.22 EPS for the quarter, beating the consensus estimate of C$0.19 by C$0.03. The firm had revenue of C$908.00 million for the quarter, compared to analysts' expectations of C$1 billion. Algonquin Power & Utilities had a net margin of 1.06% and a negative return on equity of 0.47%.
Algonquin Power & Utilities Price Performance
Shares of TSE:AQN traded up C$0.19 during trading hours on Wednesday, hitting C$8.60. 2,204,823 shares of the company's stock traded hands, compared to its average volume of 2,718,544. Algonquin Power & Utilities has a 52 week low of C$6.75 and a 52 week high of C$12.31. The company has a debt-to-equity ratio of 123.16, a quick ratio of 0.37 and a current ratio of 0.63. The company's fifty day simple moving average is C$8.23 and its two-hundred day simple moving average is C$8.12. The company has a market cap of C$5.93 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 Cuts Dividend
The firm 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 13.67%. Algonquin Power & Utilities's dividend payout ratio (DPR) is 1,475.00%.
About Algonquin Power & Utilities
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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.
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