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

Power Co. of Canada (TSE:POW) – Stock analysts at National Bank Financial upped their FY2024 earnings estimates for Power Co. of Canada in a report issued on Monday, April 29th. National Bank Financial analyst J. Gloyn now anticipates 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.

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

A number of other brokerages have also commented on POW. Desjardins lifted their price target on 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. TD Securities lowered Power Co. of Canada from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$40.00 to C$42.00 in a report on Friday, March 22nd. National Bankshares lifted their price target on Power Co. of Canada from C$39.00 to C$41.00 in a report on Thursday, March 21st. BMO Capital Markets boosted their target price on Power Co. of Canada from C$38.00 to C$41.00 in a research note on Friday, March 15th. Finally, CIBC lowered their target price on Power Co. of Canada from C$43.00 to C$40.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$41.44.

Power Co. of Canada Stock Performance

Shares of POW opened at C$37.85 on Thursday. The stock has a 50 day moving average of C$37.92 and a 200 day moving average of C$37.42. The company has a market capitalization of C$22.53 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.95 and a beta of 1.11. Power Co. of Canada has a 12 month low of C$32.33 and a 12 month high of C$40.30. The company has a current ratio of 23.47, a quick ratio of 107.64 and a debt-to-equity ratio of 50.75.

Power Co. of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Thursday, March 28th were paid a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.95%. This is a positive change from Power Co. of Canada’s previous quarterly dividend of $0.53. The ex-dividend date was Wednesday, March 27th. Power Co. of Canada’s payout ratio is presently 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.