FY2023 Earnings Forecast for Canadian Utilities Limited Issued By National Bank Financial (TSE:CU)

Canadian Utilities Limited (TSE:CUFree Report) – Equities researchers at National Bank Financial dropped their FY2023 earnings per share estimates for Canadian Utilities in a research report issued to clients and investors on Monday, January 29th. National Bank Financial analyst P. Kenny now forecasts that the company will earn $2.18 per share for the year, down from their prior estimate of $2.19. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.36 per share. National Bank Financial also issued estimates for Canadian Utilities’ FY2024 earnings at $2.31 EPS, FY2026 earnings at $2.43 EPS and FY2027 earnings at $2.58 EPS.

CU has been the subject of a number of other reports. TD Securities decreased their price target on Canadian Utilities from C$37.00 to C$36.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Scotiabank reduced their price objective on Canadian Utilities from C$37.00 to C$35.00 and set a “sector perform” rating on the stock in a report on Monday, October 16th. National Bankshares lifted their price target on Canadian Utilities from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a report on Friday, October 27th. CIBC lifted their price target on Canadian Utilities from C$34.00 to C$35.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Finally, BMO Capital Markets lowered their price objective on Canadian Utilities from C$37.00 to C$35.00 in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Utilities has an average rating of “Hold” and an average target price of C$35.71.

Check Out Our Latest Research Report on CU

Canadian Utilities Price Performance

TSE:CU opened at C$30.64 on Wednesday. The firm has a market capitalization of C$8.50 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 2.38 and a beta of 0.62. Canadian Utilities has a 1 year low of C$28.13 and a 1 year high of C$39.87. The business has a 50 day simple moving average of C$31.47 and a 200-day simple moving average of C$31.25. The company has a debt-to-equity ratio of 152.06, a current ratio of 0.85 and a quick ratio of 1.30.

Canadian Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 1st will be issued a dividend of $0.453 per share. This is a positive change from Canadian Utilities’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, January 31st. This represents a $1.81 annualized dividend and a dividend yield of 5.91%. Canadian Utilities’s payout ratio is presently 83.03%.

Canadian Utilities Company Profile

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Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, and retail energy businesses in the United States, Australia, and internationally. It operates through Utilities, Energy Infrastructure, and Corporate & Other segments. The Utilities segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, and the Northwest Territories; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.

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