Algonquin Power & Utilities (AQN) to Release Quarterly Earnings on Thursday

Algonquin Power & Utilities (NYSE:AQN) is scheduled to be announcing its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $598.60 million during the quarter, compared to analyst estimates of $635.95 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. On average, analysts expect Algonquin Power & Utilities to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Algonquin Power & Utilities Trading Up 0.7 %

NYSE:AQN opened at $4.88 on Thursday. Algonquin Power & Utilities has a 52 week low of $4.78 and a 52 week high of $6.79. The firm has a 50-day moving average price of $5.28 and a two-hundred day moving average price of $5.80. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -9.95 and a beta of 0.66. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.78 and a current ratio of 0.97.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend was Monday, September 30th. Algonquin Power & Utilities’s dividend payout ratio is currently -53.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AQN. CIBC reduced their target price on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Raymond James downgraded shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $7.75 to $7.00 in a research report on Monday, August 12th. Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a “neutral” rating and a $6.00 target price for the company. Scotiabank reduced their target price on shares of Algonquin Power & Utilities from $6.50 to $5.75 and set a “sector perform” rating for the company in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company cut their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Algonquin Power & Utilities has a consensus rating of “Hold” and an average target price of $6.23.

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.