ATCO (TSE:ACO.X) Issues Earnings Results

ATCO (TSE:ACO.X) released its quarterly earnings results on Wednesday. The company reported C$1.01 earnings per share (EPS) for the quarter, FiscalAI reports. ATCO had a return on equity of 8.54% and a net margin of 8.16%.

ATCO Stock Down 0.5%

TSE ACO.X traded down C$0.41 during trading hours on Wednesday, hitting C$77.46. 43,810 shares of the company traded hands, compared to its average volume of 274,442. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The business’s 50-day moving average is C$73.33 and its 200-day moving average is C$67.73. The stock has a market capitalization of C$7.82 billion, a price-to-earnings ratio of 55.73, a P/E/G ratio of 3.80 and a beta of 0.35. ATCO has a twelve month low of C$47.52 and a twelve month high of C$80.61.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACO.X shares. Scotia upped their price objective on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce boosted their target price on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Royal Bank Of Canada raised their price target on shares of ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Scotiabank lifted their price objective on shares of ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Finally, National Bank Financial boosted their price objective on shares of ATCO from C$62.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$72.43.

ATCO Company Profile

Atco Ltd is a Canadian holding company that offers gas, electric, and infrastructure solutions. The largest subsidiary of the company is Canadian utilities, which operates natural gas, electricity, and logistical services. Atco’s primary segments include Structures and Logistics; Utilities; Energy Infrastructure; Neltume Ports and Corporate and Other. It generates maximum revenue from the Utilities segment. Geographically, it derives most of its revenue from Canada.