As of Friday close, Algonquin Power & Utilities Corp.’s (NYSE:AQN) stock was up $0.04, moving up 0.59 percent to $6.87. The average number of shares traded per day over the past five days has been 2,957,080 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.33 fall in that time frame. In the last twenty days, the average volume was 3,506,560, while in the previous 50 days, it was 4,050,748.
Since last month, AQN stock retreated -7.16%. Shares of the company fell to $6.76 on 09/22/23, the lowest level in the past month. A 52-week high of $12.73 was reached on 05/11/23 after having rallying from a 52-week low of $6.41. Since the beginning of this year, AQN’s stock price has risen by 5.37% or $0.35, and marked a new high 23 times. However, the stock has declined by -46.01% since its 52-week high.
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Valuation Metrics
The stock’s beta is 0.55. Besides these, the trailing price-to-sales (P/S) ratio of 1.68, the price-to-book (PB) ratio of 0.70.
The latest dividend of $0.1080 per share was paid out, which is -50.0% less than last year’s $0.2160. On Thursday August 10 2023, a $0.1080 dividend decrease was announced.
Financial Health
In the three months ended June 29, Algonquin Power & Utilities Corp.’s quick ratio stood at 0.60, while its current ratio was 0.70, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.51, and the total debt-to-equity ratio was 1.62. On the profitability front, the trailing twelve-month gross margin is 70.30% percent. In the year ended June 29, EBITDA margin amounted to 33.43%, whereas operating margins totaled 9.60%. Based on annual data, AQN earned $402.05 million in gross profit and brought in $2.77 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 3.00%. Return on equity (ROE) for the past 12 months was -5.10%.
In Algonquin Power & Utilities Corp.’s quarter-end financial report for June 29, it reported total debt of $3.71 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. AQN’s revenue rose 100.0% during the quarter, while net income inched up to $1.62 billion. While analysts expected Algonquin Power & Utilities Corp. to report $0.11 quarterly earnings, the actual figure was $0.08 per share, beating the consensus estimate by -27.30%. During the quarter, the company generated $212.16 million in EBITDA. The liabilities of Algonquin Power & Utilities Corp. were 11.13 billion at the end of its most recent quarter ended June 29, and its total debt was $8.15 billion.
Technical Picture
This quick technical analysis looks at Algonquin Power & Utilities Corp.’s (AQN) price momentum. With a historical volatility rate of 27.69%, the RSI 9-day stood at 31.57% on 22 September.
With respect to its five-day moving average, the current Algonquin Power & Utilities Corp. price is down by -4.58% percent or -$0.33. At present, AQN shares trade -6.40% below its 20-day simple moving average and -18.70% percent below its 100-day simple moving average. However, the stock is currently trading approximately -16.42% below its SMA50 and -7.04% below its SMA200.
Stochastic coefficient K was 11.25% and Stochastic coefficient D was 13.91%, while ATR was 0.16. Given the Stochastic reading of 12.22% for the 14-day period, the RSI (14) reading has been calculated as 33.42%. As of today, the MACD Oscillator reading stands at -0.15, while the 14-day reading stands at -0.20.
Analyst Ratings
Algonquin Power & Utilities Corp. downgraded its rating on Algonquin Power & Utilities Corp. (NYSE: AQN) to a Neutral in a note to investors on April 18, 2023. The analysts firm previously had a Buy rating on the stock.Algonquin Power & Utilities Corp. (AQN) has been rated Hold by analysts. According to 1 brokerage firm, AQN is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Algonquin Power & Utilities Corp. stock as buy, with 2 recommending it as overweight.
With a median target price of $8.26, the current consensus forecast for the stock is $6.50 – $10.00. Based on these forecasts, analysts predict Algonquin Power & Utilities Corp. (AQN) will achieve an average price target of $8.50.
