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Algonquin Power & Utilities (AQN) Gains As Market Dips: What You Should Know
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Algonquin Power & Utilities (AQN - Free Report) closed at $7.41 in the latest trading session, marking a +0.68% move from the prior day. This change outpaced the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the utility operator had gained 2.36% over the past month, outpacing the Utilities sector's loss of 1.46% and lagging the S&P 500's gain of 8.32% in that time.
Wall Street will be looking for positivity from Algonquin Power & Utilities as it approaches its next earnings report date. This is expected to be March 17, 2023. On that day, Algonquin Power & Utilities is projected to report earnings of $0.19 per share, which would represent a year-over-year decline of 9.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $705.03 million, up 18.53% from the year-ago period.
Any recent changes to analyst estimates for Algonquin Power & Utilities should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 18.74% lower within the past month. Algonquin Power & Utilities is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Algonquin Power & Utilities currently has a Forward P/E ratio of 12.27. This represents a discount compared to its industry's average Forward P/E of 17.5.
Also, we should mention that AQN has a PEG ratio of 4.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power industry currently had an average PEG ratio of 3.15 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Algonquin Power & Utilities (AQN) Gains As Market Dips: What You Should Know
Algonquin Power & Utilities (AQN - Free Report) closed at $7.41 in the latest trading session, marking a +0.68% move from the prior day. This change outpaced the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Heading into today, shares of the utility operator had gained 2.36% over the past month, outpacing the Utilities sector's loss of 1.46% and lagging the S&P 500's gain of 8.32% in that time.
Wall Street will be looking for positivity from Algonquin Power & Utilities as it approaches its next earnings report date. This is expected to be March 17, 2023. On that day, Algonquin Power & Utilities is projected to report earnings of $0.19 per share, which would represent a year-over-year decline of 9.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $705.03 million, up 18.53% from the year-ago period.
Any recent changes to analyst estimates for Algonquin Power & Utilities should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 18.74% lower within the past month. Algonquin Power & Utilities is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Algonquin Power & Utilities currently has a Forward P/E ratio of 12.27. This represents a discount compared to its industry's average Forward P/E of 17.5.
Also, we should mention that AQN has a PEG ratio of 4.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power industry currently had an average PEG ratio of 3.15 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.