Brokers Set Expectations for Hydro One FY2024 Earnings

Hydro One Limited (TSE:H) – Investment analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for Hydro One in a report released on Thursday, November 7th. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $1.88 for the year, down from their prior forecast of $1.89. The consensus estimate for Hydro One’s current full-year earnings is $2.06 per share.

A number of other research firms have also weighed in on H. CIBC upped their target price on shares of Hydro One from C$41.00 to C$44.00 in a report on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of Hydro One from C$42.00 to C$46.00 in a research report on Monday, August 19th. Raymond James increased their price objective on Hydro One from C$41.00 to C$45.00 in a research report on Thursday, September 19th. BMO Capital Markets boosted their target price on Hydro One from C$42.00 to C$44.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada raised their price target on Hydro One from C$41.00 to C$43.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$43.00.

Hydro One Trading Down 0.7 %

Shares of H opened at C$44.41 on Monday. The business’s 50-day moving average price is C$45.64 and its 200-day moving average price is C$42.51. The company has a quick ratio of 0.30, a current ratio of 0.40 and a debt-to-equity ratio of 137.11. Hydro One has a twelve month low of C$37.04 and a twelve month high of C$48.05. The stock has a market cap of C$26.62 billion, a PE ratio of 23.75, a P/E/G ratio of 3.17 and a beta of 0.34.

Hydro One (TSE:H) last issued its earnings results on Wednesday, August 14th. The company reported C$0.49 EPS for the quarter, topping the consensus estimate of C$0.48 by C$0.01. The business had revenue of C$2.03 billion during the quarter. Hydro One had a return on equity of 9.61% and a net margin of 13.85%.

Hydro One Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be issued a $0.314 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, December 11th. Hydro One’s payout ratio is currently 67.38%.

About Hydro One

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.