Canadian Imperial Bank of Commerce Has Lowered Expectations for Algonquin Power & Utilities (TSE:AQN) Stock Price

Algonquin Power & Utilities (TSE:AQN) had its target price lowered by research analysts at Canadian Imperial Bank of Commerce from C$6.25 to C$6.00 in a report released on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce’s price target suggests a potential downside of 18.26% from the stock’s current price.

Algonquin Power & Utilities Stock Down 0.4%

Shares of AQN traded down C$0.03 on Tuesday, hitting C$7.34. 652,349 shares of the stock traded hands, compared to its average volume of 2,438,642. The company has a market capitalization of C$5.65 billion, a PE ratio of 40.78, a P/E/G ratio of 1.07 and a beta of 1.39. Algonquin Power & Utilities has a one year low of C$7.26 and a one year high of C$9.69. The company has a debt-to-equity ratio of 143.60, a quick ratio of 0.37 and a current ratio of 0.88. The business has a 50 day simple moving average of C$7.98 and a 200 day simple moving average of C$8.27.

Algonquin Power & Utilities (TSE:AQN) last posted its earnings results on Friday, August 7th. The company reported C$0.06 EPS for the quarter. Algonquin Power & Utilities had a return on equity of 3.20% and a net margin of 5.86%.The business had revenue of C$772.76 million during the quarter. As a group, equities analysts forecast that Algonquin Power & Utilities will post 0.4650555 earnings per share for the current fiscal year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.