Analysts Set Expectations for Algonquin Power & Utilities Corp.’s Q1 2024 Earnings (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for Algonquin Power & Utilities in a research report issued on Sunday, April 14th. National Bank Financial analyst R. Merer expects that the company will earn $0.22 per share for the quarter. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.70 per share. National Bank Financial also issued estimates for Algonquin Power & Utilities’ Q2 2024 earnings at $0.14 EPS, Q3 2024 earnings at $0.15 EPS, Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.67 EPS and FY2025 earnings at $0.73 EPS.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings data on Friday, March 8th. The company reported C$0.22 earnings per share 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 business had revenue of C$908.00 million for the quarter, compared to analyst estimates of C$1 billion.

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

Algonquin Power & Utilities Stock Down 2.2 %

Algonquin Power & Utilities stock opened at C$7.84 on Tuesday. Algonquin Power & Utilities has a twelve month low of C$6.75 and a twelve month high of C$12.31. The stock’s fifty day simple moving average is C$8.15 and its 200-day simple moving average is C$8.09. The company has a current ratio of 0.63, a quick ratio of 0.37 and a debt-to-equity ratio of 123.16. The firm has a market capitalization of C$5.41 billion, a P/E ratio of 196.00, a P/E/G ratio of 1.07 and a beta of 0.45.

Algonquin Power & Utilities Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.294 dividend. This represents a $1.18 annualized dividend and a yield of 15.00%. The ex-dividend date was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 1,475.00%.

About Algonquin Power & Utilities

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.