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Algonquin Power & Utilities (AQN) Outpaces Stock Market Gains: What You Should Know
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Algonquin Power & Utilities (AQN - Free Report) closed at $7.64 in the latest trading session, marking a +1.33% move from the prior day. This change outpaced the S&P 500's 0.76% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq lost 0.98%.
Prior to today's trading, shares of the utility operator had gained 2.03% over the past month. This has outpaced the Utilities sector's loss of 6.82% and the S&P 500's loss of 3.91% 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. 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 $698.37 million, up 17.41% from the year-ago period.
Any recent changes to analyst estimates for Algonquin Power & Utilities should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.28% lower within the past month. Algonquin Power & Utilities is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Algonquin Power & Utilities is holding a Forward P/E ratio of 12.6. This represents a discount compared to its industry's average Forward P/E of 16.55.
Meanwhile, AQN's PEG ratio is currently 4.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.87 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 152, which puts it in the bottom 40% 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) Outpaces Stock Market Gains: What You Should Know
Algonquin Power & Utilities (AQN - Free Report) closed at $7.64 in the latest trading session, marking a +1.33% move from the prior day. This change outpaced the S&P 500's 0.76% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq lost 0.98%.
Prior to today's trading, shares of the utility operator had gained 2.03% over the past month. This has outpaced the Utilities sector's loss of 6.82% and the S&P 500's loss of 3.91% 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. 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 $698.37 million, up 17.41% from the year-ago period.
Any recent changes to analyst estimates for Algonquin Power & Utilities should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.28% lower within the past month. Algonquin Power & Utilities is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Algonquin Power & Utilities is holding a Forward P/E ratio of 12.6. This represents a discount compared to its industry's average Forward P/E of 16.55.
Meanwhile, AQN's PEG ratio is currently 4.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.87 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 152, which puts it in the bottom 40% 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.