Power Co. of Canada (TSE:POW) Price Target Cut to C$31.00 by Analysts at CIBC

Power Co. of Canada (TSE:POW) had its target price reduced by CIBC from C$34.00 to C$31.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports.

POW has been the subject of several other research reports. TD Securities cut their price target on shares of Power Co. of Canada from C$33.00 to C$32.00 in a report on Thursday, May 16th. BMO Capital Markets boosted their price target on shares of Power Co. of Canada from C$31.00 to C$34.00 and gave the stock an outperform rating in a report on Tuesday, April 16th.

Shares of TSE:POW traded up C$0.20 during trading on Wednesday, hitting C$27.28. 168,477 shares of the stock traded hands, compared to its average volume of 1,456,123. The company has a debt-to-equity ratio of 46.07, a quick ratio of 19.60 and a current ratio of 20.95. The stock has a market capitalization of $10.09 billion and a P/E ratio of 12.07. The business’s fifty day simple moving average is C$28.12. Power Co. of Canada has a 52-week low of C$23.35 and a 52-week high of C$32.60.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings results on Tuesday, May 14th. The financial services provider reported C$0.63 EPS for the quarter, missing the consensus estimate of C$0.75 by C($0.12). The company had revenue of C$17.87 billion for the quarter. As a group, equities research analysts anticipate that Power Co. of Canada will post 3.5000002 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 5.94%. The ex-dividend date is Friday, September 6th. This is a boost from Power Co. of Canada’s previous quarterly dividend of $0.38. Power Co. of Canada’s payout ratio is 68.72%.

Power Co. of Canada Company Profile

Power Corporation of Canada operates as a diversified international management and holding company with interests primarily in the financial services, sustainable and renewable energy, asset management, communications, and other business sectors in North America, Europe, and Asia. The company operates through Lifeco, IGM Financial, and Pargesa segments.

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