Power Co. of Canada (TSE:POW) Sets New 1-Year High – Here’s Why

Shares of Power Co. of Canada (TSE:POW) hit a new 52-week high during trading on Monday . The company traded as high as C$44.67 and last traded at C$44.67, with a volume of 112874 shares trading hands. The stock had previously closed at C$44.15.

Analyst Ratings Changes

A number of analysts recently weighed in on POW shares. Scotiabank increased their price target on shares of Power Co. of Canada from C$47.00 to C$47.50 in a research report on Wednesday, July 24th. Desjardins increased 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 report on Monday, August 12th. Jefferies Financial Group decreased their price target on shares of Power Co. of Canada from C$45.00 to C$44.00 in a report on Friday, August 2nd. CIBC reduced their target price on Power Co. of Canada from C$43.00 to C$40.00 in a report on Friday, August 9th. 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 research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$43.28.

Power Co. of Canada Stock Performance

The stock has a fifty day simple moving average of C$42.08 and a 200-day simple moving average of C$39.77. The stock has a market cap of C$26.46 billion, a P/E ratio of 10.06, a PEG ratio of 0.57 and a beta of 1.09. The company has a debt-to-equity ratio of 48.53, a quick ratio of 107.64 and a current ratio of 91.78.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.12 by C$0.05. The business had revenue of C$9.91 billion during the quarter. Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. On average, equities analysts expect that Power Co. of Canada will post 4.9831081 earnings per share for the current year.

Power Co. of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be issued a $0.563 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.04%. Power Co. of Canada’s dividend payout ratio (DPR) is presently 51.25%.

Power Co. of Canada Company Profile

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.