In the latest trading session, 1.03 million Algonquin Power & Utilities Corp (NYSE:AQN) shares changed hands as the company’s beta touched 0.72. With the company’s most recent per share price at $5.05 changed hands at -$0.05 or -1.08% at last look, the market valuation stands at $3.99B. AQN’s current price is a discount, trading about -34.46% off its 52-week high of $6.79. The share price had its 52-week low at $4.90, which suggests the last value was 2.97% up since then. When we look at Algonquin Power & Utilities Corp’s average trading volume, we note the 10-day average is 5.01 million shares, with the 3-month average coming to 6.08 million.
Analysts gave the Algonquin Power & Utilities Corp (AQN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.78. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended AQN as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Algonquin Power & Utilities Corp’s EPS for the current quarter is expected to be 0.09.
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Algonquin Power & Utilities Corp (NYSE:AQN) trade information
Instantly AQN was in red as seen in intraday trades today. With action -0.88%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -20.17%, with the 5-day performance at -0.88% in the red. However, in the 30-day time frame, Algonquin Power & Utilities Corp (NYSE:AQN) is -9.59% down. Looking at the short shares, we see there were 13.91 million shares sold at short interest cover period of 2.91 days.
The consensus price target for the stock as assigned by Wall Street analysts is 7.12, meaning bulls need an upside of 29.07% from its recent market value. According to analyst projections, AQN’s forecast low is 5.5 with 10.5 as the target high. To hit the forecast high, the stock’s price needs a -107.92% plunge from its current level, while the stock would need to soar -8.91% for it to hit the projected low.
Algonquin Power & Utilities Corp (AQN) estimates and forecasts
Data shows that the Algonquin Power & Utilities Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -18.10% over the past 6 months, a -18.87% in annual growth rate that is considerably lower than the industry average of 4.90%. Year-over-year growth is forecast to reach 0.30% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 598.92M. 2 analysts are of the opinion that Algonquin Power & Utilities Corp’s revenue for the current quarter will be 621.79M. The company’s revenue for the corresponding quarters a year ago was 624.7M and 666.9M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -4.10%. The estimates for the next quarter sales put growth at -6.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -40.16%. The 2024 estimates are for Algonquin Power & Utilities Corp earnings to decrease by -16.79%, but the outlook for the next 5-year period is at -1.50% per year.
AQN Dividends
Algonquin Power & Utilities Corp is expected to release its next quarterly earnings report on 2024-Nov-07. The 7.74% annual yield figure for the share gives it an annual dividend of 0.39. It is important to note, however, that the 7.74% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 5.73 per year.
Algonquin Power & Utilities Corp (NYSE:AQN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.06% of Algonquin Power & Utilities Corp shares while 61.85% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 61.89%. There are 61.85% institutions holding the Algonquin Power & Utilities Corp stock share, with STARBOARD VALUE LP the top institutional holder. As of 2024-06-30, the company held 9.0116% of the shares, roughly 62.14 million AQN shares worth $364.15 million.
ROYAL BANK OF CANADA holds the second largest percentage of outstanding shares, with 4.1929% or 28.91 million shares worth $169.43 million as of 2024-06-30.
