FY2024 EPS Estimates for Power Co. of Canada (TSE:POW) Raised by Analyst

Power Co. of Canada (TSE:POW) – Equities research analysts at National Bank Financial increased their FY2024 EPS estimates for shares of Power Co. of Canada in a research note issued on Monday, April 29th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will post earnings per share of $4.62 for the year, up from their prior forecast of $4.54. The consensus estimate for Power Co. of Canada’s current full-year earnings is $4.53 per share.

A number of other brokerages have also issued reports on POW. TD Securities lowered shares of Power Co. of Canada from a “buy” rating to a “hold” rating and increased their target price for the company from C$40.00 to C$42.00 in a research report on Friday, March 22nd. Scotiabank increased their target price on shares of Power Co. of Canada from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. BMO Capital Markets raised their target price on shares of Power Co. of Canada from C$38.00 to C$41.00 in a report on Friday, March 15th. Desjardins raised their target price on shares of Power Co. of Canada from C$39.00 to C$40.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, National Bankshares raised their target price on shares of Power Co. of Canada from C$39.00 to C$41.00 in a report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$41.44.

Power Co. of Canada Stock Up 1.2 %

POW stock opened at C$37.85 on Thursday. The company has a quick ratio of 107.64, a current ratio of 23.47 and a debt-to-equity ratio of 50.75. Power Co. of Canada has a fifty-two week low of C$32.33 and a fifty-two week high of C$40.30. The firm’s 50-day simple moving average is C$37.92 and its 200 day simple moving average is C$37.42. The stock has a market cap of C$22.53 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.95 and a beta of 1.11.

Power Co. of Canada (TSE:POW) last released its quarterly earnings data on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.00 by C($0.11). Power Co. of Canada had a return on equity of 8.94% and a net margin of 6.89%. The firm had revenue of C$21.37 billion during the quarter.

Power Co. of Canada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Thursday, March 28th were issued a dividend of $0.563 per share. This is a boost from Power Co. of Canada’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend was Wednesday, March 27th. Power Co. of Canada’s dividend payout ratio (DPR) is currently 65.60%.

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.