Algonquin Power & Utilities (NYSE:AQN) released its quarterly earnings results on Thursday. The utilities provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10, Briefing.com reports. The company had revenue of $366.50 million during the quarter, compared to the consensus estimate of $480.48 million. Algonquin Power & Utilities had a return on equity of 10.25% and a net margin of 10.92%. The business’s revenue was up 3.6% compared to the same quarter last year.
AQN stock opened at $10.32 on Friday. Algonquin Power & Utilities has a 52-week low of $9.45 and a 52-week high of $11.34. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08. The firm has a market cap of $4.98 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.95 and a beta of 0.74.
Several research firms have weighed in on AQN. National Bank Financial downgraded Algonquin Power & Utilities from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Thursday. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Finally, Wells Fargo & Co dropped their price target on Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating for the company in a research report on Monday, August 20th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $11.17.
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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.
Further Reading: Cost of Capital
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