The stock of Algonquin Power & Utilities Corp. (NYSE:AQN) increased by $0.17 on Tuesday to finish at $7.57, up 2.30 percent. The last five days have seen an average of 2,854,300 shares of common stock traded. 23 times new highs were reached in the current year, with a gain of $1.05. The average number of shares traded over the last 20 days was 3,727,815, while the average volume over the last 50 days totaled 4,995,640.
AQN stock dropped -8.35% since last month. On 08/15/23, the company’s shares reached a one-month low of $7.01. The stock touched a high of $14.25 on 05/11/23, after rallying from a low of $6.41 in 52 weeks. The price of AQN stock has risen by 16.10% or $1.05 this year, reaching a new high 23 times. Still, the stock price is down -46.88% from the 52-week high.
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Valuation Metrics
Beta for the stock is 0.54. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.84, the price-to-book (PB) ratio of 0.77.
Company paid $0.1080 per share in dividends, a decrease of -50.0% from $0.2160 last year. A $0.1080 dividend decrease was reported on Thursday August 10 2023.
Financial Health
For the three months ended June 29, Algonquin Power & Utilities Corp.’s quick ratio was 0.60, while its current ratio was 0.70, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.51, and the total debt to equity ratio is 1.62. As far as profitability goes, gross margin for the trailing twelve months is 70.30% percent. Algonquin Power & Utilities Corp.’s EBITDA margin for the year ended June 29 was 33.43%, whereas its operating margin stood at 9.60% for the same period. Based on annual data, it had gross profit of $402.05 million and revenue of $2.77 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. AQN’s return on assets (ROA) during the last 12 months has been -1.50%. There was a 3.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -5.10%.
Earnings Surprise
According to Algonquin Power & Utilities Corp.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.62 billion, while revenues rose by 100.0% to $0.0. It was predicted that Algonquin Power & Utilities Corp.’s quarterly earnings would be $0.08, but it ended up being $0.11, beating the consensus by -27.30%. EBITDA was $212.16 million for the quarter. At the end of Algonquin Power & Utilities Corp.’s most recent quarter ended June 29, its liabilities totaled 11.13 billion, while its total debt was $8.15 billion.
Technical Picture
Here’s a quick look at Algonquin Power & Utilities Corp.’s (AQN) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 56.72%, suggesting the stock is Neutral, with a 32.69% historical volatility rate.
The stochastic %K and %D were 47.16% and 41.73% respectively, while the average true range (ATR) was 0.17. Based on the 14-day stochastic reading of 59.57%, the RSI (14) reading is 48.75%. On the 9-day MACD Oscillator, the stock is at 0.12, and the 14-day reading is at 0.12.
Analyst Ratings
Algonquin Power & Utilities Corp. (NYSE: AQN) was downgraded by BofA Securities to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Algonquin Power & Utilities Corp. (AQN) an Hold rating. AQN is a stock that is recommended for selling by 1 brokerage firm, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.
What is AQN’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.50 and $10.00, with a median target price of $9.00. In analyzing these forecasts, the average price target given by analysts for Algonquin Power & Utilities Corp. (AQN) is $8.92.
