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

Algonquin Power & Utilities (NYSE:AQN) is scheduled to be releasing its earnings data before the market opens on Friday, August 9th. Analysts expect Algonquin Power & Utilities to post earnings of $0.08 per share for the quarter. Persons that are interested in participating in 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, May 10th. The utilities provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Algonquin Power & Utilities had a negative net margin of 12.44% and a positive return on equity of 5.39%. The business had revenue of $737.10 million for the quarter, compared to analysts’ expectations of $813.38 million. During the same period in the previous year, the company earned $0.17 EPS. Algonquin Power & Utilities’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts expect Algonquin Power & Utilities to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Algonquin Power & Utilities Price Performance

NYSE AQN opened at $6.07 on Thursday. Algonquin Power & Utilities has a 52 week low of $4.90 and a 52 week high of $7.95. The firm has a market capitalization of $4.65 billion, a P/E ratio of -12.38 and a beta of 0.66. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $6.04 and a 200-day moving average price of $6.10.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Friday, June 28th. Algonquin Power & Utilities’s payout ratio is currently -87.76%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AQN. Royal Bank of Canada reiterated a “sector perform” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Wednesday, July 10th. Desjardins upped their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “hold” rating in a research note on Thursday, June 6th. National Bankshares increased their price objective on shares of Algonquin Power & Utilities from $6.75 to $7.25 and gave the company a “sector perform” rating in a report on Tuesday, May 28th. CIBC increased their price objective on shares of Algonquin Power & Utilities from $7.50 to $7.70 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Algonquin Power & Utilities from $8.00 to $8.50 and gave the company an “overweight” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average target price of $7.06.

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.