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:AQN – Get 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:AQN – Get 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.

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