$414.08 Million in Sales Expected for Algonquin Power & Utilities Corp (AQN) This Quarter

Equities research analysts expect that Algonquin Power & Utilities Corp (NYSE:AQN) will announce $414.08 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Algonquin Power & Utilities’ earnings, with estimates ranging from $399.36 million to $428.80 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 0.5%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, February 28th.

According to Zacks, analysts expect that Algonquin Power & Utilities will report full-year sales of $1.60 billion for the current financial year, with estimates ranging from $1.53 billion to $1.65 billion. For the next fiscal year, analysts expect that the business will report sales of $1.63 billion, with estimates ranging from $1.56 billion to $1.71 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Algonquin Power & Utilities.

Algonquin Power & Utilities (NYSE:AQN) last issued its 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. Algonquin Power & Utilities had a return on equity of 9.59% and a net margin of 11.48%. The firm had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $480.48 million. The company’s revenue for the quarter was up 3.6% on a year-over-year basis.



Several equities analysts have recently weighed in on the company. Raymond James lifted their price objective on Algonquin Power & Utilities from $12.50 to $13.00 and gave the company a “strong-buy” rating in a report on Friday, December 7th. TD Securities lifted their price objective on Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “buy” rating in a report on Wednesday, December 5th. Canaccord Genuity reiterated a “buy” rating and set a $11.00 price objective on shares of Algonquin Power & Utilities in a report on Wednesday, December 5th. National Bank Financial lifted their price objective on Algonquin Power & Utilities from $10.50 to $11.00 and gave the company a “sector perform” rating in a report on Monday, November 12th. Finally, Zacks Investment Research cut Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a report on Monday, January 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.75.

Shares of NYSE:AQN traded up $0.01 during trading on Friday, hitting $10.64. 162,500 shares of the company’s stock traded hands, compared to its average volume of 289,360. Algonquin Power & Utilities has a 52 week low of $9.45 and a 52 week high of $11.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.17 and a quick ratio of 0.94. The stock has a market capitalization of $5.21 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were paid a $0.256 dividend. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, December 28th. This represents a $1.02 annualized dividend and a yield of 9.62%. Algonquin Power & Utilities’s payout ratio is presently 87.93%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AQN. Pictet Asset Management Ltd. bought a new stake in Algonquin Power & Utilities in the 3rd quarter valued at approximately $71,985,000. Bank of America Corp DE lifted its stake in Algonquin Power & Utilities by 433.1% in the 2nd quarter. Bank of America Corp DE now owns 4,994,669 shares of the utilities provider’s stock valued at $48,298,000 after acquiring an additional 4,057,782 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Algonquin Power & Utilities by 1,792.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,266,650 shares of the utilities provider’s stock valued at $33,763,000 after acquiring an additional 3,094,000 shares in the last quarter. Vanguard Group Inc lifted its stake in Algonquin Power & Utilities by 16.4% in the 3rd quarter. Vanguard Group Inc now owns 11,589,361 shares of the utilities provider’s stock valued at $120,066,000 after acquiring an additional 1,634,962 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Algonquin Power & Utilities by 16.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,589,361 shares of the utilities provider’s stock valued at $120,066,000 after acquiring an additional 1,634,962 shares in the last quarter. Hedge funds and other institutional investors own 42.14% of the company’s stock.

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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