Algonquin Power & Utilities (NYSE:AQN) Announces Quarterly Earnings Results

Algonquin Power & Utilities (NYSE:AQNGet Free Report) released its quarterly earnings results on Friday. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01), Briefing.com reports. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The firm had revenue of $737.10 million for the quarter, compared to the consensus estimate of $813.38 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year.

Algonquin Power & Utilities Stock Performance

NYSE AQN opened at $6.56 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.63 and a debt-to-equity ratio of 1.23. Algonquin Power & Utilities has a twelve month low of $4.90 and a twelve month high of $9.14. The business has a 50-day moving average price of $6.17 and a 200-day moving average price of $6.07. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -13.39 and a beta of 0.64.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.108 per share. The ex-dividend date is Friday, June 28th. This represents a $0.43 dividend on an annualized basis and a yield of 6.59%. Algonquin Power & Utilities’s dividend payout ratio is presently -87.76%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AQN shares. StockNews.com upgraded shares of Algonquin Power & Utilities to a “sell” rating in a research report on Friday. TD Securities boosted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “hold” rating in a research report on Monday, March 11th. Scotiabank reduced their price objective on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, Desjardins upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating and lifted their target price for the company from $4.75 to $5.75 in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.38.

View Our Latest Stock Report on Algonquin Power & Utilities

Algonquin Power & Utilities Company Profile

(Get Free Report)

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.

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Earnings History for Algonquin Power & Utilities (NYSE:AQN)

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