Raymond James Weighs in on Algonquin Power & Utilities Corp.’s FY2024 Earnings (TSE:AQN)

Algonquin Power & Utilities Corp. (TSE:AQN) – Stock analysts at Raymond James boosted their FY2024 earnings estimates for Algonquin Power & Utilities in a research note issued on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the company will post earnings per share of $0.70 for the year, up from their previous estimate of $0.68. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.70 per share.

Algonquin Power & Utilities (TSE:AQN) last issued its earnings results on Friday, March 8th. The company reported C$0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.19 by C$0.03. Algonquin Power & Utilities had a net margin of 1.06% and a negative return on equity of 0.47%. The firm had revenue of C$908.00 million for the quarter, compared to analysts’ expectations of C$1 billion.

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

Algonquin Power & Utilities Stock Performance

TSE:AQN opened at C$8.37 on Monday. The stock has a market cap of C$5.77 billion, a P/E ratio of 209.25, a price-to-earnings-growth ratio of 1.07 and a beta of 0.45. The firm’s fifty day simple moving average is C$8.21 and its 200 day simple moving average is C$8.12. Algonquin Power & Utilities has a twelve month low of C$6.75 and a twelve month high of C$12.31. The company has a quick ratio of 0.37, a current ratio of 0.63 and a debt-to-equity ratio of 123.16.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.294 per share. This represents a $1.18 annualized dividend and a yield of 14.05%. The ex-dividend date was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio is currently 1,475.00%.

Algonquin Power & Utilities Company Profile

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.