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

Canadian Utilities Limited (TSE:CU) – Analysts at National Bank Financial issued their Q1 2024 earnings estimates for shares of Canadian Utilities in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects 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 posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.71 earnings per share for the quarter, beating the consensus estimate 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 during the quarter.

CU has been the subject of several other research reports. Scotiabank reduced their price objective 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, April 22nd. CIBC reduced their price objective on shares of Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$35.29.

Canadian Utilities Stock Performance

TSE:CU opened at C$30.69 on Thursday. Canadian Utilities has a twelve month low of C$28.13 and a twelve month high of C$39.79. The company has a current ratio of 1.01, a quick ratio of 1.30 and a debt-to-equity ratio of 147.99. The company has a 50-day moving average of C$30.55 and a 200-day moving average of C$30.75. The firm has a market cap of C$6.27 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60.

Insiders Place Their Bets

In related news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the firm’s 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 transaction of C$1,544,530.92. Corporate insiders own 38.21% of the company’s stock.

Canadian Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Thursday, May 2nd will be issued a $0.453 dividend. This represents a $1.81 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Wednesday, May 1st. Canadian Utilities’s payout ratio is 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.