FY2024 EPS Estimates for Capital Power Co. (TSE:CPX) Raised by Analyst

Capital Power Co. (TSE:CPX) – Stock analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for shares of Capital Power in a research report issued to clients and investors on Thursday, August 1st. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $3.80 for the year, up from their prior estimate of $3.50. The consensus estimate for Capital Power’s current full-year earnings is $3.16 per share.

Several other research firms have also weighed in on CPX. CIBC upped their price objective on shares of Capital Power from C$42.00 to C$45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Scotiabank upped their price target on shares of Capital Power from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. BMO Capital Markets lifted their price objective on Capital Power from C$38.00 to C$42.00 in a research report on Thursday, August 1st. TD Securities boosted their target price on Capital Power from C$47.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Raymond James cut their price target on Capital Power from C$46.00 to C$45.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$46.50.

Capital Power Price Performance

Shares of CPX opened at C$43.41 on Monday. The company has a debt-to-equity ratio of 125.95, a current ratio of 0.75 and a quick ratio of 0.55. The company has a market capitalization of C$5.61 billion, a price-to-earnings ratio of 8.30, a P/E/G ratio of 0.91 and a beta of 0.58. The business’s 50-day moving average is C$40.55 and its 200-day moving average is C$38.41. Capital Power has a fifty-two week low of C$33.90 and a fifty-two week high of C$43.59.

Insiders Place Their Bets

In other news, Senior Officer Bryan Deneve sold 2,441 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of C$40.38, for a total transaction of C$98,577.10. Insiders own 0.17% of the company’s stock.

Capital Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.652 per share. This is a positive change from Capital Power’s previous quarterly dividend of $0.62. This represents a $2.61 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend is Friday, September 27th. Capital Power’s dividend payout ratio (DPR) is 47.04%.

Capital Power Company Profile

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.