The trading price of Algonquin Power & Utilities Corp (NYSE:AQN) closed lower on Tuesday, October 29, and closing at $4.84, -3.39% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $4.82 and $5.0. The company’s P/E ratio in the trailing 12-month period was 32.14, while its 5Y monthly beta was 0.52. In examining the 52-week price action we see that the stock hit a 52-week high of $6.79 and a 52-week low of $4.88. Over the past month, the stock has lost -11.19% in value.
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Algonquin Power & Utilities Corp, whose market valuation is $3.82 billion at the time of this writing, is expected to release its quarterly earnings report in November. The dividend yield on the company stock is 8.07%, while its Forward Dividend ratio is 0.39. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.09 per share this quarter, however they have predicted annual earnings per share of 0.43 for current year and 0.32 for next year.
Analysts have forecast the company to bring in revenue of 598.92M for the current quarter, with the likely lows of 568M and highs of 629.84M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 2.71B.
On the technical side, indicators suggest AQN has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned AQN a recommendation rating is 7. Out of them, 2 rate it a Hold, while 5 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Algonquin Power & Utilities Corp (AQN) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that AQN’s price is currently -5.03% off the SMA20 and -8.23% off the SMA50. The RSI metric on the 14-day chart is currently showing 33.09, and weekly volatility stands at 2.72%. When measured over the past 30 days, the indicator reaches 2.26%. Algonquin Power & Utilities Corp (NYSE:AQN)’s beta value is currently sitting at 0.72, while the Average True Range indicator is currently displaying 0.12. With analysts defining $5.5-$10.5 as the low and high price targets, we arrive at a consensus price target of $6.75 for the trailing 12-month period. The current price is about -13.64% off the estimated low and -116.94% off the forecast high, based on this estimate. Investors will be thrilled if AQN’s share price rises to $6.75, which is the median consensus price. At that level, AQN’s share price would be -39.46% below current price.
To see how Algonquin Power & Utilities Corp stock has been performing in comparison to its peers in the industry, here are the numbers: AQN stock’s performance was -3.39% in the latest trading, and -3.78% in the past year. Algonquin Power & Utilities Corp has a P/E ratio of 32.14.
An evaluation of the daily trading volume of Algonquin Power & Utilities Corp (NYSE:AQN) indicates that the 3-month average is 6.19 million. However, this figure has increased over the past 10 days to an average of 4.89.
Currently, records show that 789.99 million of the company’s shares remain outstanding. The insiders hold 3.01% of outstanding shares, whereas institutions hold 58.97%. The stats also highlight that short interest as of 2024-10-15, stood at 16.92 million shares, resulting in a short ratio of 2.93 at that time. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 13.91 million. However, since the stock’s price has seen -23.42% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
