Power Co. of Canada (TSE:POW) Sets New 1-Year High – Here’s Why

Power Co. of Canada (TSE:POW)’s share price hit a new 52-week high on Tuesday . The company traded as high as C$47.60 and last traded at C$47.47, with a volume of 78031 shares changing hands. The stock had previously closed at C$47.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Power Co. of Canada from C$46.00 to C$47.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Desjardins raised their target price on Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. CIBC upped their price target on shares of Power Co. of Canada from C$45.00 to C$51.00 in a research report on Wednesday, November 13th. BMO Capital Markets raised their price objective on shares of Power Co. of Canada from C$42.00 to C$49.00 in a report on Tuesday, November 12th. Finally, TD Securities upped their target price on shares of Power Co. of Canada from C$44.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$47.31.

Power Co. of Canada Stock Performance

The company has a quick ratio of 107.64, a current ratio of 91.78 and a debt-to-equity ratio of 48.53. The business has a 50 day moving average price of C$44.74 and a two-hundred day moving average price of C$41.29. The stock has a market cap of C$27.78 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings results on Tuesday, November 12th. The financial services provider reported C$0.82 earnings per share for the quarter, missing the consensus estimate of C$1.14 by C($0.32). The business had revenue of C$5.29 billion during the quarter. Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. On average, sell-side analysts forecast that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal year.

About Power Co. of Canada

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.