Algonquin Power & Utilities Corp (NYSE:AQN) saw a downside of -3.92% to close Tuesday at $6.61 after subtracting -$0.27 on the day. The 5-day average trading volume is 3,340,300 shares of the company’s common stock. It has gained $7.08 in the past week and touched a new high 1 time within the past 5 days. An average of 3,675,945 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,105,160.
AQN’s 1-month performance is -10.55% or -$0.78 on its low of $6.61 reached on 09/26/23. The company’s shares have touched a 52-week low of $6.41 and high of $12.40, with the stock’s rally to the 52-week high happening on 05/11/23. YTD, AQN has achieved 1.38% or $0.09 and has reached a new high 23 times. However, the current price is down -46.72% from the 52-week high price.
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Valuation Metrics
AQN stock has a beta of 0.54. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.70 while the price-to-book (PB) in the most recent quarter is 0.94.
Algonquin Power & Utilities Corp’s quick ratio for the period ended June 29 was 0.56, with the current ratio over the same period at 0.71. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.46, while the total debt to equity was 1.56.. In terms of profitability, the gross margin trailing 12 months is 19.71%. The trailing 12-month EBITDA margin is 33.43% while for the period ending June 29, Algonquin Power & Utilities Corp’s operating margin was 16.59%. The firm’s gross profit as reported stood at $402.05 million against revenue of $2.77 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 100.0% to $530.88 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected AQN to announce $0.11 per share in earnings in its latest quarter, but it posted $0.08, representing a -27.30% surprise. EBITDA for the quarter stood at more than $212.16 million. AQN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 11.13 billion, with total debt at $8.15 billion.
Let’s look briefly at Algonquin Power & Utilities Corp (AQN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 22.92% to suggest the stock is trending oversold, with historical volatility in this time period at 29.50%.
The stock’s 5-day moving average is $6.84, reflecting a -4.34% or -$0.30 change from its current price. AQN is currently trading -10.68% above its 20-day SMA, -24.20% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -18.19% and SMA200 by-9.58%.
Stochastic %K and %D was 10.11% and 11.73% and the average true range (ATR) pointed at 0.17. The RSI (14) points at 27.23%, while the 14-day stochastic is at 0.73% with the period’s ATR at 0.17. The stock’s 9-day MACD Oscillator is pointing at -0.17 and -0.23 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Algonquin Power & Utilities Corp (NYSE: AQN), BofA Securities downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for AQN stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate AQN as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 2 have offered a “buy” rating.
What is AQN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $6.50 and a high of $10.00, with their median price target at $8.26. Looking at these predictions, the average price target given by analysts is for Algonquin Power & Utilities Corp (AQN) stock is $8.50.
