Analysts Issue Forecasts for Hydro One Limited’s Q1 2024 Earnings (TSE:H)

Hydro One Limited (TSE:H) – National Bank Financial issued their Q1 2024 earnings per share estimates for Hydro One in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $0.48 per share for the quarter. The consensus estimate for Hydro One’s current full-year earnings is $1.91 per share.

H has been the subject of several other reports. National Bankshares lifted their price objective on Hydro One from C$35.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 30th. Wells Fargo & Company lifted their price objective on Hydro One from C$39.00 to C$40.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 14th. CIBC reduced their price objective on Hydro One from C$40.00 to C$39.00 and set a “neutral” rating for the company in a report on Friday, April 19th. TD Securities boosted their price target on Hydro One from C$37.00 to C$39.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada boosted their price target on Hydro One from C$37.00 to C$41.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$39.56.

Hydro One Stock Performance

Shares of H stock opened at C$37.85 on Thursday. The stock has a fifty day moving average price of C$39.91 and a 200 day moving average price of C$38.81. The stock has a market cap of C$22.68 billion, a PE ratio of 20.91, a P/E/G ratio of 2.90 and a beta of 0.31. Hydro One has a 1 year low of C$32.79 and a 1 year high of C$41.69. The company has a debt-to-equity ratio of 133.77, a quick ratio of 0.30 and a current ratio of 0.50.

Hydro One (TSE:H) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C$0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.30. Hydro One had a return on equity of 9.45% and a net margin of 13.83%. The firm had revenue of C$1.98 billion for the quarter.

Hydro One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were paid a $0.296 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.18 annualized dividend and a yield of 3.13%. Hydro One’s payout ratio is currently 65.75%.

About Hydro One

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.