Power Co. of Canada (POW) to Issue Quarterly Dividend of $0.56 on November 1st

Power Co. of Canada (TSE:POW) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.563 per share by the financial services provider on Friday, November 1st. This represents a $2.25 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, September 27th.

Power Co. of Canada Stock Performance

POW opened at C$42.88 on Wednesday. The firm’s fifty day simple moving average is C$39.99 and its two-hundred day simple moving average is C$39.00. Power Co. of Canada has a 52-week low of C$32.33 and a 52-week high of C$43.23. The company has a market cap of C$25.40 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.95 and a beta of 1.09. The company has a quick ratio of 107.64, a current ratio of 91.78 and a debt-to-equity ratio of 48.53.

Power Co. of Canada (TSE:POW) last announced its quarterly earnings data on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.12 by C$0.05. Power Co. of Canada had a net margin of 8.29% and a return on equity of 11.29%. The company had revenue of C$9.91 billion during the quarter. Equities analysts anticipate that Power Co. of Canada will post 4.9731622 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on POW. CIBC cut their target price on Power Co. of Canada from C$43.00 to C$40.00 in a research note on Friday, August 9th. Desjardins lifted their target price on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Jefferies Financial Group dropped their price target on shares of Power Co. of Canada from C$45.00 to C$44.00 in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Power Co. of Canada from C$46.00 to C$47.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Finally, TD Securities upgraded Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$43.28.

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.