Algonquin Power & Utilities (AQN) closed at $7.30 in the latest trading session, marking a +1.67% move from the prior day. This move outpaced the S&P 500's daily gain of 1.19%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the utility operator had gained 6.21% over the past month, outpacing the Utilities sector's gain of 1.09% and the S&P 500's gain of 4.06% in that time.
Wall Street will be looking for positivity from Algonquin Power & Utilities as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $705.03 million, up 18.53% from the year-ago period.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection has moved 18.74% lower. Algonquin Power & Utilities currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Algonquin Power & Utilities is holding a Forward P/E ratio of 11.25. For comparison, its industry has an average Forward P/E of 17.19, which means Algonquin Power & Utilities is trading at a discount to the group.
Investors should also note that AQN has a PEG ratio of 3.71 right now. 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. The Utility - Electric Power was holding an average PEG ratio of 3.17 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 145, putting 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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