Analysts Expect Algonquin Power & Utilities Corp (NYSE:AQN) to Announce $0.13 EPS

Wall Street brokerages forecast that Algonquin Power & Utilities Corp (NYSE:AQN) will post earnings per share of $0.13 for the current quarter, Zacks reports. Two analysts have issued estimates for Algonquin Power & Utilities’ earnings, with estimates ranging from $0.11 to $0.14. Algonquin Power & Utilities posted earnings of $0.11 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, August 8th.

According to Zacks, analysts expect that Algonquin Power & Utilities will report full year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.57 to $0.69. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.69 per share, with EPS estimates ranging from $0.59 to $0.75. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, May 9th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). Algonquin Power & Utilities had a return on equity of 7.64% and a net margin of 15.57%. The business had revenue of $477.23 million for the quarter, compared to the consensus estimate of $498.08 million.

Several research analysts have issued reports on AQN shares. Raymond James reiterated an “outperform” rating and set a C$5.50 target price on shares of OceanaGold in a report on Tuesday, June 4th. TheStreet upgraded shares of WillScot from a “d-” rating to a “c-” rating in a report on Wednesday, May 8th. National Bank Financial raised their price target on shares of Ero Copper from C$18.50 to C$21.50 and gave the company a “sector perform” rating in a report on Friday, June 21st. Zacks Investment Research cut shares of General Finance from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Desjardins raised their price target on shares of People from C$9.50 to C$9.75 in a report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.44.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Algonquin Power & Utilities during the 4th quarter worth about $1,400,000. Raymond James & Associates grew its holdings in Algonquin Power & Utilities by 30.8% during the 4th quarter. Raymond James & Associates now owns 82,557 shares of the utilities provider’s stock worth $831,000 after acquiring an additional 19,443 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Algonquin Power & Utilities by 128.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 45,716 shares of the utilities provider’s stock worth $460,000 after acquiring an additional 25,682 shares in the last quarter. Advisor Group Inc. grew its holdings in Algonquin Power & Utilities by 48.3% during the 4th quarter. Advisor Group Inc. now owns 8,906 shares of the utilities provider’s stock worth $89,000 after acquiring an additional 2,899 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Algonquin Power & Utilities by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 49,575 shares of the utilities provider’s stock worth $498,000 after acquiring an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 45.98% of the company’s stock.

Algonquin Power & Utilities stock traded down $0.01 during midday trading on Thursday, hitting $12.50. 4,823 shares of the company’s stock were exchanged, compared to its average volume of 305,147. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 1.03. Algonquin Power & Utilities has a 12 month low of $9.63 and a 12 month high of $12.67. The business’s 50-day moving average price is $12.29. The firm has a market cap of $6.16 billion, a P/E ratio of 18.91, a PEG ratio of 2.57 and a beta of 0.66.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.142 dividend. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, June 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 84.85%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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