Canadian Utilities Limited Forecasted to Earn Q1 2024 Earnings of $0.80 Per Share (TSE:CU)

Canadian Utilities Limited (TSE:CU) – Analysts at National Bank Financial issued their Q1 2024 earnings estimates for Canadian Utilities in a research report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the company will post earnings per share of $0.80 for the quarter. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.35 per share.

Canadian Utilities (TSE:CU) last issued its earnings results on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.02. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%. The company had revenue of C$974.00 million for the quarter.

CU has been the topic of a number of other reports. CIBC reduced their target price on shares of Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Scotiabank dropped their price target on shares of Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research report on Monday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$35.29.

Canadian Utilities Price Performance

Shares of CU stock opened at C$30.64 on Thursday. The company has a debt-to-equity ratio of 147.99, a current ratio of 1.01 and a quick ratio of 1.30. The firm’s 50-day moving average is C$30.54 and its two-hundred day moving average is C$30.74. Canadian Utilities has a 12 month low of C$28.13 and a 12 month high of C$39.87. The company has a market capitalization of C$6.26 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60.

Insider Activity at Canadian Utilities

In related news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of Canadian Utilities stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of C$30.77, for a total value of C$1,544,530.92. Company insiders own 38.21% of the company’s stock.

Canadian Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Thursday, May 2nd will be issued a $0.453 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Wednesday, May 1st. Canadian Utilities’s dividend payout ratio (DPR) is currently 77.68%.

Canadian Utilities Company Profile

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