National Bank Financial Comments on Power Co. of Canada’s FY2024 Earnings (TSE:POW)

Power Co. of Canada (TSE:POW) – Investment analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for shares of Power Co. of Canada in a report released on Monday, April 29th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will post earnings of $4.62 per share for the year, up from their prior forecast of $4.54. The consensus estimate for Power Co. of Canada’s current full-year earnings is $4.53 per share.

Other research analysts also recently issued reports about the company. TD Securities downgraded Power Co. of Canada from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$40.00 to C$42.00 in a research note on Friday, March 22nd. CIBC dropped their price target on Power Co. of Canada from C$43.00 to C$40.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Scotiabank boosted their price target on Power Co. of Canada from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Desjardins boosted their price target on Power Co. of Canada from C$39.00 to C$40.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada upgraded Power Co. of Canada from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$41.00 to C$45.00 in a research note on Thursday, January 4th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$41.44.

Power Co. of Canada Trading Up 0.5 %

Shares of TSE:POW opened at C$36.86 on Thursday. Power Co. of Canada has a 12-month low of C$32.33 and a 12-month high of C$40.30. The business’s fifty day simple moving average is C$38.01 and its 200-day simple moving average is C$37.40. The company has a current ratio of 23.47, a quick ratio of 107.64 and a debt-to-equity ratio of 50.75. The company has a market capitalization of C$21.94 billion, a PE ratio of 10.75, a P/E/G ratio of 0.95 and a beta of 1.11.

Power Co. of Canada (TSE:POW) last issued its earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.00 by C($0.11). Power Co. of Canada had a net margin of 6.89% and a return on equity of 8.94%. The firm had revenue of C$21.37 billion for the quarter.

Power Co. of Canada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Thursday, March 28th were paid a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a yield of 6.11%. This is a boost from Power Co. of Canada’s previous quarterly dividend of $0.53. The ex-dividend date was Wednesday, March 27th. Power Co. of Canada’s dividend payout ratio is 65.60%.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.