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Algonquin Power & Utilities (AQN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Algonquin Power & Utilities (AQN - Free Report) closed at $8.01, marking a -0.37% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the utility operator had gained 4.55% over the past month. This has outpaced the Utilities sector's gain of 0.29% and the S&P 500's gain of 0.07% in that time.
Investors will be hoping for strength from Algonquin Power & Utilities as it approaches its next earnings release. The company is expected to report EPS of $0.16, down 23.81% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $790.58 million, up 7.46% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.58 per share and revenue of $2.97 billion. These totals would mark changes of -15.94% and +6.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Algonquin Power & Utilities. These revisions help to show the ever-changing nature of 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.51% lower. Algonquin Power & Utilities is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Algonquin Power & Utilities is holding a Forward P/E ratio of 13.78. Its industry sports an average Forward P/E of 16.89, so we one might conclude that Algonquin Power & Utilities is trading at a discount comparatively.
Also, we should mention that AQN has a PEG ratio of 4.55. 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. The Utility - Electric Power was holding an average PEG ratio of 2.83 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 146, 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.
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
In the latest trading session, Algonquin Power & Utilities (AQN - Free Report) closed at $8.01, marking a -0.37% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the utility operator had gained 4.55% over the past month. This has outpaced the Utilities sector's gain of 0.29% and the S&P 500's gain of 0.07% in that time.
Investors will be hoping for strength from Algonquin Power & Utilities as it approaches its next earnings release. The company is expected to report EPS of $0.16, down 23.81% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $790.58 million, up 7.46% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.58 per share and revenue of $2.97 billion. These totals would mark changes of -15.94% and +6.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Algonquin Power & Utilities. These revisions help to show the ever-changing nature of 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.51% lower. Algonquin Power & Utilities is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Algonquin Power & Utilities is holding a Forward P/E ratio of 13.78. Its industry sports an average Forward P/E of 16.89, so we one might conclude that Algonquin Power & Utilities is trading at a discount comparatively.
Also, we should mention that AQN has a PEG ratio of 4.55. 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. The Utility - Electric Power was holding an average PEG ratio of 2.83 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 146, 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.
To follow AQN in the coming trading sessions, be sure to utilize Zacks.com.