Zacks: Brokerages Anticipate Algonquin Power & Utilities Corp. (NYSE:AQN) Will Post Quarterly Sales of $766.08 Million

Wall Street analysts expect Algonquin Power & Utilities Corp. (NYSE:AQNGet Rating) to announce sales of $766.08 million for the current quarter, Zacks reports. Three analysts have issued estimates for Algonquin Power & Utilities’ earnings, with the highest sales estimate coming in at $781.30 million and the lowest estimate coming in at $745.00 million. Algonquin Power & Utilities reported sales of $634.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 20.7%. The company is expected to announce its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Algonquin Power & Utilities will report full-year sales of $2.65 billion for the current financial year, with estimates ranging from $2.62 billion to $2.76 billion. For the next financial year, analysts expect that the business will report sales of $2.87 billion, with estimates ranging from $2.76 billion to $3.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQNGet Rating) last posted its earnings results on Thursday, March 3rd. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. Algonquin Power & Utilities had a return on equity of 6.97% and a net margin of 11.59%. The business had revenue of $594.80 million during the quarter, compared to analyst estimates of $594.36 million. During the same quarter last year, the firm earned $0.21 earnings per share.

A number of equities research analysts have recently weighed in on the company. Raymond James set a $20.00 price target on Algonquin Power & Utilities and gave the company an “outperform” rating in a report on Friday, March 4th. StockNews.com initiated coverage on shares of Algonquin Power & Utilities in a research note on Thursday, March 31st. They set a “sell” rating for the company. National Bank Financial boosted their target price on shares of Algonquin Power & Utilities from $15.50 to $16.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, April 12th. Finally, National Bankshares boosted their target price on shares of Algonquin Power & Utilities from $15.50 to $16.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.78.

AQN opened at $14.45 on Monday. The stock has a market capitalization of $9.73 billion, a PE ratio of 36.13, a P/E/G ratio of 2.44 and a beta of 0.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.56. Algonquin Power & Utilities has a 12-month low of $13.39 and a 12-month high of $16.26. The firm’s fifty day moving average price is $15.14 and its 200 day moving average price is $14.49.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were issued a $0.1706 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Wednesday, March 30th. Algonquin Power & Utilities’s payout ratio is 170.00%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in Algonquin Power & Utilities during the 3rd quarter worth about $27,000. Huntington National Bank acquired a new stake in Algonquin Power & Utilities during the 4th quarter worth about $29,000. Stonehage Fleming Financial Services Holdings Ltd raised its holdings in Algonquin Power & Utilities by 53.8% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 2,415 shares of the utilities provider’s stock worth $34,000 after buying an additional 845 shares during the period. Schroder Investment Management Group acquired a new stake in Algonquin Power & Utilities during the 3rd quarter worth about $39,000. Finally, AGF Investments LLC raised its holdings in Algonquin Power & Utilities by 33.3% during the 3rd quarter. AGF Investments LLC now owns 3,092 shares of the utilities provider’s stock worth $45,000 after buying an additional 773 shares during the period. 43.80% of the stock is owned by institutional investors.

About Algonquin Power & Utilities (Get Rating)

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, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.

Recommended Stories

Get a free copy of the Zacks research report on Algonquin Power & Utilities (AQN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.