Desjardins Has Pessimistic Outlook of TSE:AQN Q3 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Equities researchers at Desjardins dropped their Q3 2024 earnings estimates for shares of Algonquin Power & Utilities in a note issued to investors on Tuesday, November 5th. Desjardins analyst B. Stadler now anticipates that the company will post earnings per share of $0.08 for the quarter, down from their previous estimate of $0.09. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Desjardins also issued estimates for Algonquin Power & Utilities’ Q4 2024 earnings at $0.07 EPS, FY2025 earnings at $0.39 EPS and FY2026 earnings at $0.47 EPS.

Algonquin Power & Utilities (TSE:AQN) last released its earnings results on Friday, August 9th. The company reported C$0.12 EPS for the quarter, topping the consensus estimate of C$0.11 by C$0.01. The company had revenue of C$819.06 million during the quarter, compared to analysts’ expectations of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%.

Other equities research analysts also recently issued reports about the stock. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Wells Fargo & Company lowered shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Raymond James lowered shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$6.25.

Algonquin Power & Utilities Stock Performance

Shares of TSE AQN opened at C$6.66 on Thursday. The company has a market cap of C$5.11 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a 12 month low of C$6.51 and a 12 month high of C$9.28. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. The company has a 50-day simple moving average of C$7.12 and a 200-day simple moving average of C$7.93.

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.