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

Northwest Natural (NYSE:NWN) issued an update on its FY 2024 earnings guidance on Friday 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 Q3 guidance to ($0.86)-($0.74) EPS.

Northwest Natural Stock Performance

Shares of NWN stock traded down $1.44 during trading hours on Friday, reaching $38.92. The stock had a trading volume of 423,438 shares, compared to its average volume of 234,778. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.15 and a quick ratio of 0.93. The firm has a 50-day simple moving average of $37.11 and a 200-day simple moving average of $37.21. The firm has a market capitalization of $1.48 billion, a PE ratio of 17.07 and a beta of 0.57. Northwest Natural has a twelve month low of $34.82 and a twelve month high of $42.92.

Northwest Natural (NYSE:NWN) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. Northwest Natural had a return on equity of 6.76% and a net margin of 7.36%. The company had revenue of $211.70 million for the quarter, compared to analysts’ expectations of $231.99 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Northwest Natural will post 2.28 earnings per share for the current year.

Northwest Natural Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.488 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.95 annualized dividend and a dividend yield of 5.02%. Northwest Natural’s payout ratio is 85.53%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Northwest Natural from $39.00 to $40.00 and gave the stock a buy rating in a report on Tuesday, May 7th. StockNews.com lowered shares of Northwest Natural from a hold rating to a sell rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price 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.