Zacks: Brokerages Expect Algonquin Power & Utilities Corp (NYSE:AQN) Will Announce Earnings of $0.14 Per Share

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Equities analysts forecast that Algonquin Power & Utilities Corp (NYSE:AQN) will announce earnings of $0.14 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Algonquin Power & Utilities’ earnings. The highest EPS estimate is $0.16 and the lowest is $0.12. Algonquin Power & Utilities posted earnings of $0.10 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 40%. The company is scheduled to report its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Algonquin Power & Utilities will report full-year earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.57 to $0.70. For the next financial year, analysts forecast that the company will post earnings of $0.66 per share, with EPS estimates ranging from $0.54 to $0.75. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business had revenue of $343.58 million for the quarter, compared to the consensus estimate of $372.40 million. Algonquin Power & Utilities had a net margin of 21.46% and a return on equity of 7.71%.

Several analysts recently issued reports on the company. Desjardins reissued a “buy” rating and set a $13.00 target price on shares of Algonquin Power & Utilities in a research note on Tuesday, April 23rd. Royal Bank of Canada lifted their target price on Algonquin Power & Utilities from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Tuesday. Industrial Alliance Securities reissued a “buy” rating on shares of Algonquin Power & Utilities in a research note on Monday. Raymond James reissued a “strong-buy” rating and set a $15.00 target price on shares of Algonquin Power & Utilities in a research note on Friday, August 9th. Finally, TheStreet raised Algonquin Power & Utilities from a “d” rating to a “b” rating in a research note on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.00.

Large investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. increased its holdings in shares of Algonquin Power & Utilities by 16.2% in the second quarter. UBS Asset Management Americas Inc. now owns 440,570 shares of the utilities provider’s stock valued at $5,351,000 after purchasing an additional 61,442 shares during the last quarter. Jane Street Group LLC boosted its holdings in Algonquin Power & Utilities by 429.0% in the second quarter. Jane Street Group LLC now owns 176,695 shares of the utilities provider’s stock valued at $2,141,000 after purchasing an additional 143,295 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in Algonquin Power & Utilities by 99,579.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 293,058 shares of the utilities provider’s stock worth $3,551,000 after buying an additional 292,764 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Algonquin Power & Utilities by 32.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,048 shares of the utilities provider’s stock worth $316,000 after buying an additional 6,455 shares during the last quarter. Finally, Jefferies Group LLC purchased a new stake in Algonquin Power & Utilities during the 2nd quarter worth about $1,790,000. 46.86% of the stock is currently owned by institutional investors and hedge funds.

AQN traded down $0.06 on Friday, hitting $12.85. 27,562 shares of the company’s stock traded hands, compared to its average volume of 340,061. The firm has a 50 day simple moving average of $12.51. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. Algonquin Power & Utilities has a one year low of $9.63 and a one year high of $13.07. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 1.03.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.142 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Friday, September 27th. Algonquin Power & Utilities’s payout ratio is 84.85%.

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

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