Wall Street analysts expect Algonquin Power & Utilities Corp (NYSE:AQN) to post $439.87 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Algonquin Power & Utilities’ earnings, with the highest sales estimate coming in at $441.00 million and the lowest estimate coming in at $438.73 million. Algonquin Power & Utilities reported sales of $419.90 million in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The firm is scheduled to announce its next earnings report on Thursday, November 7th.
On average, analysts expect that Algonquin Power & Utilities will report full year sales of $1.63 billion for the current year, with estimates ranging from $1.60 billion to $1.67 billion. For the next year, analysts expect that the business will report sales of $1.76 billion, with estimates ranging from $1.68 billion to $1.90 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Algonquin Power & Utilities.
Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $365.60 million during the quarter, compared to analysts’ expectations of $405.41 million. Algonquin Power & Utilities had a return on equity of 7.57% and a net margin of 21.46%. Algonquin Power & Utilities’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS.
A number of equities analysts have weighed in on AQN shares. CIBC set a $14.30 price target on Algonquin Power & Utilities and gave the stock a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada upped their price target on Algonquin Power & Utilities from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Raymond James restated a “strong-buy” rating and issued a $16.00 price target on shares of Algonquin Power & Utilities in a report on Friday. National Bank Financial upped their price target on Algonquin Power & Utilities from $13.50 to $14.00 in a report on Monday, October 21st. Finally, Industrial Alliance Securities lowered Algonquin Power & Utilities to a “buy” rating and set a $19.00 target price on the stock. in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Algonquin Power & Utilities has an average rating of “Buy” and a consensus target price of $14.08.
A number of large investors have recently added to or reduced their stakes in AQN. Winslow Evans & Crocker Inc. purchased a new stake in shares of Algonquin Power & Utilities during the 2nd quarter worth about $28,000. Steward Partners Investment Advisory LLC bought a new position in shares of Algonquin Power & Utilities in the 2nd quarter valued at approximately $34,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Algonquin Power & Utilities by 1,049.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,334 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 3,957 shares in the last quarter. Csenge Advisory Group bought a new position in shares of Algonquin Power & Utilities in the 2nd quarter valued at approximately $146,000. Finally, Verity Asset Management Inc. raised its stake in shares of Algonquin Power & Utilities by 14.0% in the 2nd quarter. Verity Asset Management Inc. now owns 12,670 shares of the utilities provider’s stock valued at $153,000 after acquiring an additional 1,557 shares in the last quarter. Hedge funds and other institutional investors own 44.35% of the company’s stock.
NYSE AQN traded up $0.09 on Monday, reaching $13.55. The company had a trading volume of 679,818 shares, compared to its average volume of 454,074. The firm has a market capitalization of $6.96 billion, a PE ratio of 20.53, a P/E/G ratio of 2.72 and a beta of 0.58. Algonquin Power & Utilities has a 1 year low of $9.67 and a 1 year high of $14.45. The firm has a 50-day moving average of $13.69 and a 200-day moving average of $12.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.03 and a quick ratio of 0.83.
Algonquin Power & Utilities Company Profile
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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