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Algonquin Power & Utilities (AQN) Stock Moves -1.01%: What You Should Know
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Algonquin Power & Utilities (AQN - Free Report) closed at $7.83 in the latest trading session, marking a -1.01% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.05%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Prior to today's trading, shares of the utility operator had gained 8.36% over the past month. This has outpaced the Utilities sector's loss of 3.28% and the S&P 500's gain of 0.01% 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. The company is expected to report EPS of $0.19, down 9.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.28% lower. Algonquin Power & Utilities is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Algonquin Power & Utilities is currently trading at a Forward P/E ratio of 13.22. This valuation marks a discount compared to its industry's average Forward P/E of 17.32.
We can also see that AQN currently has a PEG ratio of 4.36. 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 3.16 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 145, which puts it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Algonquin Power & Utilities (AQN) Stock Moves -1.01%: What You Should Know
Algonquin Power & Utilities (AQN - Free Report) closed at $7.83 in the latest trading session, marking a -1.01% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.05%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Prior to today's trading, shares of the utility operator had gained 8.36% over the past month. This has outpaced the Utilities sector's loss of 3.28% and the S&P 500's gain of 0.01% 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. The company is expected to report EPS of $0.19, down 9.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.28% lower. Algonquin Power & Utilities is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Algonquin Power & Utilities is currently trading at a Forward P/E ratio of 13.22. This valuation marks a discount compared to its industry's average Forward P/E of 17.32.
We can also see that AQN currently has a PEG ratio of 4.36. 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 3.16 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 145, which puts it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.