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Algonquin Power & Utilities Corp. (NYSE: AQN) Has Yet To Win Over Analysts?

Algonquin Power & Utilities Corp. (NYSE:AQN) traded at $7.25 at last check on Tuesday, 01/24/23, made a downward move of -0.96% on its previous day’s price.

Looking at the stock we see that its previous close was $7.32 and the beta (5Y monthly) reads 0.36 with the day’s price range being $7.17 – $7.3575. The company has a trailing 12-month PE ratio of 110.91. In terms of its 52-week price range, AQN has a high of $16.01 and a low of $6.41. The company’s stock has gained about 8.77% over that past 30 days.

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Algonquin Power & Utilities Corp. has a market cap of $6.45 billion and is expected to release its quarterly earnings report on Mar 01, 2023 – Mar 06, 2023. With its Forward Dividend at 0.98 and a yield of 13.39%, the company’s investors could be anxious for the AQN stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.17, with the EPS growth for the year raised at $0.74 for 2022 and $0.81 for next year. These figures represent 4.20% and 9.50% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $594.76 million, with a low of $524.28 million and a high of $649 million. The median projection represents growth squeezing down to 12.50% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $2.75 billion, or 20.30% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the AQN stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 13 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 7 have rated the Algonquin Power & Utilities Corp. (AQN) stock as a Hold, while 2 rate it as a Buy. 1 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the AQN stock currently stands at 28.44, and the most recent price level today is 4.06% off its SMA20 and -0.85% from its 50-day simple moving average. The RSI (14) is pointing at 51.56 while the volatility over the past week is 3.43% and jumps to 3.82% over the past one month. The beta value is 0.28, while the average true range (ATR) is currently pointing at 0.29. The average price target for the stock over the next 12 months is $8.43, with the estimates having a low of $6.70 and a high of $11.00. These price ends are 7.59% and -51.72% off the today’s price level respectively, although investors could be excited at the prospect of a -10.34% if the AQN share price touches on the median price of $8.00.

Let’s briefly compare Algonquin Power & Utilities Corp. (AQN) stock to its peers. We find that today’s price change of -0.96% and -47.79% over the past 12 months for AQN. Another of its peers PG&E Corporation (PCG) has gained 0.28% today, and was 29.44% up over the past year, while American Water Works Company Inc. (AWK) is also down -0.79% yet, while its price remains in the red at -4.24% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.43% and -1.17%, respectively, in early deals.

Coming back to Algonquin Power & Utilities Corp. (NYSE:AQN), we note that the average 3-month trading volume was 7.17 million, while that of the preceding 10-day period stands at 7.78 million. Current shares outstanding are 678.62 million.

The insiders hold 0.07% of the company’s shares while institutions hold 46.78%. The data shows that short shares as of Oct 13, 2022, stood at 24.0 million at a short ratio of 8.04. This represents a 3.54% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 21.33 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 12.27% up in year-to-date price movement.

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