National Bank Financial Forecasts Hydro One FY2024 Earnings

Hydro One Limited (TSE:H) – Analysts at National Bank Financial reduced their FY2024 earnings estimates for shares of Hydro One in a note issued to investors on Thursday, November 7th. National Bank Financial analyst P. Kenny now expects that the company will earn $1.88 per share for the year, down from their previous estimate of $1.89. The consensus estimate for Hydro One’s current full-year earnings is $2.06 per share.

H has been the topic of a number of other reports. National Bankshares lifted their price objective on shares of Hydro One from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. CIBC upped their price target on shares of Hydro One from C$41.00 to C$44.00 in a research note on Thursday, August 15th. Royal Bank of Canada raised their price objective on shares of Hydro One from C$41.00 to C$43.00 and gave the company a “sector perform” rating in a research note on Thursday, October 3rd. BMO Capital Markets upped their target price on Hydro One from C$42.00 to C$44.00 in a research report on Thursday, September 5th. Finally, Wells Fargo & Company increased their price target on Hydro One from C$42.00 to C$46.00 in a research note on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$43.00.

Hydro One Trading Up 0.3 %

Shares of H stock opened at C$44.73 on Monday. Hydro One has a 1 year low of C$37.04 and a 1 year high of C$48.05. The firm has a market capitalization of C$26.81 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The stock has a fifty day moving average of C$45.65 and a two-hundred day moving average of C$42.46. The company has a debt-to-equity ratio of 137.11, a quick ratio of 0.30 and a current ratio of 0.40.

Hydro One (TSE:H) last issued its quarterly earnings data on Wednesday, August 14th. The company reported C$0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.48 by C$0.01. Hydro One had a return on equity of 9.61% and a net margin of 13.85%. The business had revenue of C$2.03 billion during the quarter.

Hydro One Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 11th will be given a $0.314 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.26 annualized dividend and a yield of 2.81%. Hydro One’s dividend payout ratio (DPR) is 67.38%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.