Northwest Natural (NYSE:NWN) Updates Q2 2024 Earnings Guidance

Northwest Natural (NYSE:NWN) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -0.160–0.080 for the period, compared to the consensus estimate of 0.000. The company issued revenue guidance of -. Northwest Natural also updated its FY 2024 guidance to 2.200-2.400 EPS.

Northwest Natural Stock Performance

NWN stock remained flat at $38.47 during mid-day trading on Thursday. 15,698 shares of the company’s stock were exchanged, compared to its average volume of 329,475. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.70 and a current ratio of 0.86. The company’s fifty day moving average price is $37.12 and its 200 day moving average price is $37.51. Northwest Natural has a 12 month low of $34.95 and a 12 month high of $47.29. The stock has a market cap of $1.46 billion, a PE ratio of 14.79 and a beta of 0.54.

Northwest Natural (NYSE:NWN) last posted its quarterly earnings results on Monday, May 6th. The utilities provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.13). Northwest Natural had a net margin of 7.84% and a return on equity of 7.52%. The firm had revenue of $433.50 million during the quarter, compared to analysts’ expectations of $447.81 million. During the same period last year, the company earned $2.01 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts forecast that Northwest Natural will post 2.27 earnings per share for the current fiscal year.

Northwest Natural Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.488 dividend. This represents a $1.95 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Monday, April 29th. Northwest Natural’s payout ratio is 75.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of Northwest Natural in a research note on Wednesday, January 31st. They set a neutral rating and a $39.00 target price for the company. Stifel Nicolaus upped their price target on Northwest Natural from $39.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $41.40.

Northwest Natural Company Profile

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.