Hydro One Limited (TSE:H) Forecasted to Earn Q1 2024 Earnings of $0.48 Per Share

Hydro One Limited (TSE:H) – Stock analysts at Raymond James decreased their Q1 2024 EPS estimates for shares of Hydro One in a research report issued to clients and investors on Thursday, April 25th. Raymond James analyst D. Quezada now expects that the company will post earnings per share of $0.48 for the quarter, down from their previous forecast of $0.50. Raymond James has a “Market Perform” rating and a $41.00 price objective on the stock. The consensus estimate for Hydro One’s current full-year earnings is $1.91 per share. Raymond James also issued estimates for Hydro One’s Q3 2024 earnings at $0.58 EPS and FY2024 earnings at $1.91 EPS.

Hydro One (TSE:H) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C$0.30 earnings per share for the quarter, meeting the consensus estimate of C$0.30. The firm had revenue of C$1.98 billion for the quarter. Hydro One had a net margin of 13.83% and a return on equity of 9.45%.

A number of other equities analysts have also recently commented on the stock. CIBC decreased their target price on shares of Hydro One from C$40.00 to C$39.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company raised their price target on shares of Hydro One from C$39.00 to C$40.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 14th. Scotiabank cut their price target on shares of Hydro One from C$40.00 to C$38.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. National Bankshares raised their price target on shares of Hydro One from C$35.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada raised their price target on shares of Hydro One from C$37.00 to C$41.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Hydro One currently has a consensus rating of “Hold” and an average target price of C$39.56.

Hydro One Price Performance

Shares of TSE:H opened at C$38.21 on Monday. The stock has a market cap of C$22.89 billion, a PE ratio of 21.11, a PEG ratio of 2.90 and a beta of 0.31. The company’s fifty day moving average is C$39.76 and its 200 day moving average is C$38.87. Hydro One has a 52 week low of C$32.79 and a 52 week high of C$41.69. The company has a quick ratio of 0.30, a current ratio of 0.50 and a debt-to-equity ratio of 133.77.

Hydro One Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a $0.296 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.18 annualized dividend and a yield of 3.10%. Hydro One’s payout ratio is presently 65.75%.

Hydro One Company Profile

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.