Desjardins Has Pessimistic Outlook of TSE:AQN Q3 Earnings

Algonquin Power & Utilities Corp. (TSE:AQN) – Investment analysts at Desjardins dropped their Q3 2024 earnings estimates for Algonquin Power & Utilities in a report released on Tuesday, November 5th. Desjardins analyst B. Stadler now expects that the company will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.09. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.47 per share. Desjardins also issued estimates for Algonquin Power & Utilities’ Q4 2024 earnings at $0.07 EPS, FY2025 earnings at $0.39 EPS and FY2026 earnings at $0.47 EPS.

A number of other analysts have also issued reports on AQN. Raymond James lowered shares of Algonquin Power & Utilities from a “moderate buy” rating to a “hold” rating in a research report on Monday, August 12th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Janney Montgomery Scott raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company lowered shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities presently has an average rating of “Hold” and a consensus target price of C$6.25.

Algonquin Power & Utilities Price Performance

TSE AQN opened at C$6.66 on Thursday. The company has a 50 day simple moving average of C$7.12 and a 200-day simple moving average of C$7.93. The company has a debt-to-equity ratio of 108.48, a current ratio of 0.97 and a quick ratio of 0.37. The firm has a market capitalization of C$5.11 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. Algonquin Power & Utilities has a 52-week low of C$6.51 and a 52-week high of C$9.28.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings results on Friday, August 9th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.11 by C$0.01. The business had revenue of C$819.06 million during the quarter, compared to analyst estimates of C$851.84 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 0.24%.

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.