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

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

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Algonquin Power & Utilities had a return on equity of 5.36% and a net margin of 4.70%. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $635.95 million. During the same period in the previous year, the company posted $0.08 EPS. Algonquin Power & Utilities’s revenue for the quarter was down 4.7% on a year-over-year basis. 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 Stock Up 1.3 %

Shares of NYSE:AQN opened at $4.80 on Wednesday. The company has a 50 day moving average of $5.22 and a two-hundred day moving average of $5.76. Algonquin Power & Utilities has a 52-week low of $4.71 and a 52-week high of $6.79. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 30.00 and a beta of 0.68.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Monday, September 30th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 162.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Janney Montgomery Scott assumed coverage on Algonquin Power & Utilities in a research note on Thursday, September 5th. They set a “neutral” rating and a $6.00 target price for the company. National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Raymond James lowered Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and cut their target price for the company from $7.75 to $7.00 in a research report on Monday, August 12th. CIBC decreased their price target 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.23.

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.