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Algonquin Power & Utilities (AQN) Dips More Than Broader Markets: What You Should Know
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Algonquin Power & Utilities (AQN - Free Report) closed at $7.40 in the latest trading session, marking a -1.46% move from the prior day. This move lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Prior to today's trading, shares of the utility operator had gained 12.76% over the past month. This has outpaced the Utilities sector's loss of 3.74% and the S&P 500's gain of 3.6% in that time.
Algonquin Power & Utilities will be looking to display strength as it nears its next earnings release, which is expected to be March 17, 2023. In that report, analysts expect Algonquin Power & Utilities to post earnings of $0.19 per share. This would mark 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.
Investors might also notice recent changes to analyst estimates for Algonquin Power & Utilities. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Within the past 30 days, our consensus EPS projection has moved 16.67% lower. Algonquin Power & Utilities is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Algonquin Power & Utilities is holding a Forward P/E ratio of 12.52. This valuation marks a discount compared to its industry's average Forward P/E of 17.23.
We can also see that AQN currently has a PEG ratio of 4.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Utility - Electric Power stocks are, on average, holding a PEG ratio of 3.18 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow AQN in the coming trading sessions, be sure to utilize Zacks.com.
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Algonquin Power & Utilities (AQN) Dips More Than Broader Markets: What You Should Know
Algonquin Power & Utilities (AQN - Free Report) closed at $7.40 in the latest trading session, marking a -1.46% move from the prior day. This move lagged the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, added 3.16%.
Prior to today's trading, shares of the utility operator had gained 12.76% over the past month. This has outpaced the Utilities sector's loss of 3.74% and the S&P 500's gain of 3.6% in that time.
Algonquin Power & Utilities will be looking to display strength as it nears its next earnings release, which is expected to be March 17, 2023. In that report, analysts expect Algonquin Power & Utilities to post earnings of $0.19 per share. This would mark 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.
Investors might also notice recent changes to analyst estimates for Algonquin Power & Utilities. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Within the past 30 days, our consensus EPS projection has moved 16.67% lower. Algonquin Power & Utilities is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Algonquin Power & Utilities is holding a Forward P/E ratio of 12.52. This valuation marks a discount compared to its industry's average Forward P/E of 17.23.
We can also see that AQN currently has a PEG ratio of 4.13. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Utility - Electric Power stocks are, on average, holding a PEG ratio of 3.18 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow AQN in the coming trading sessions, be sure to utilize Zacks.com.