Northwest Natural (NYSE:NWN) Updates FY 2024 Earnings Guidance

Northwest Natural (NYSE:NWN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.200-2.400 for the period, compared to the consensus earnings per share estimate of 2.290. The company issued revenue guidance of -. Northwest Natural also updated its FY24 guidance to $2.20-2.40 EPS.

Northwest Natural Stock Performance

NWN traded up $0.09 during trading on Wednesday, hitting $38.46. The company’s stock had a trading volume of 327,471 shares, compared to its average volume of 333,082. Northwest Natural has a one year low of $34.95 and a one year high of $47.29. The business’s 50 day simple moving average is $37.09 and its 200-day simple moving average is $37.50. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1.46 billion, a PE ratio of 14.76 and a beta of 0.54.

Northwest Natural (NYSE:NWN) last posted its earnings results on Monday, May 6th. The utilities provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.13). Northwest Natural had a return on equity of 7.52% and a net margin of 7.84%. The business had revenue of $433.50 million during the quarter, compared to the consensus estimate of $447.81 million. During the same quarter last year, the firm earned $2.01 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Northwest Natural will post 2.27 EPS for the current fiscal year.

Northwest Natural Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.488 per share. The ex-dividend date is Monday, April 29th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 5.08%. Northwest Natural’s dividend payout ratio is presently 75.00%.

Analyst Ratings Changes

Several equities research analysts have weighed in on NWN shares. Stifel Nicolaus raised their target price on shares of Northwest Natural from $39.00 to $40.00 and gave the company a buy rating in a research note on Tuesday. Janney Montgomery Scott began coverage on shares of Northwest Natural in a report on Wednesday, January 31st. They set a neutral rating and a $39.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Northwest Natural has an average rating of Hold and an average price target of $41.40.

Northwest Natural Company Profile

Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. The company operates a mist gas storage facility contracted to other utilities, third-party marketers, and electric generators; offers natural gas asset management services; and operates an appliance retail center.