Equities analysts expect that Algonquin Power & Utilities Corp (NYSE:AQN) will report sales of $413.45 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Algonquin Power & Utilities’ earnings, with the highest sales estimate coming in at $428.80 million and the lowest estimate coming in at $398.10 million. Algonquin Power & Utilities posted sales of $412.14 million during the same quarter last year, which suggests a positive year over year growth rate of 0.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, March 7th.
On average, analysts expect that Algonquin Power & Utilities will report full year sales of $1.61 billion for the current fiscal year, with estimates ranging from $1.57 billion to $1.65 billion. For the next financial year, analysts expect that the firm will post sales of $1.65 billion, with estimates ranging from $1.58 billion to $1.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Algonquin Power & Utilities.
Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.10. The business had revenue of $366.50 million during the quarter, compared to analysts’ expectations of $480.48 million. Algonquin Power & Utilities had a net margin of 10.92% and a return on equity of 10.25%. The company’s quarterly revenue was up 3.6% on a year-over-year basis.
A number of research analysts have issued reports on AQN shares. Wells Fargo & Co decreased their price target on shares of Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating for the company in a report on Monday, August 20th. National Bank Financial cut shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $11.00 to $10.50 in a report on Friday, October 5th. Finally, Zacks Investment Research cut shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Monday, October 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.17.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank purchased a new position in shares of Algonquin Power & Utilities in the third quarter worth $101,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Algonquin Power & Utilities during the first quarter worth $161,000. Cubist Systematic Strategies LLC purchased a new position in shares of Algonquin Power & Utilities during the first quarter worth $174,000. Chicago Capital LLC purchased a new position in shares of Algonquin Power & Utilities during the second quarter worth $226,000. Finally, Paloma Partners Management Co purchased a new position in shares of Algonquin Power & Utilities during the second quarter worth $226,000. 42.34% of the stock is owned by institutional investors and hedge funds.
NYSE AQN opened at $10.32 on Friday. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.92 and a beta of 0.74. Algonquin Power & Utilities has a 12-month low of $9.45 and a 12-month high of $11.34. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87.
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. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.
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