National Bank Financial Analysts Boost Earnings Estimates for Canadian Utilities Limited (TSE:CU)

Canadian Utilities Limited (TSE:CU) – Equities research analysts at National Bank Financial increased their FY2024 earnings per share estimates for shares of Canadian Utilities in a research note issued on Thursday, May 2nd. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings of $2.41 per share for the year, up from their prior forecast of $2.34. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.34 per share.

A number of other research firms have also recently commented on CU. Scotiabank reduced their price target on shares of Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. CIBC reduced their target price on Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Canadian Utilities has an average rating of “Hold” and an average target price of C$35.29.

Canadian Utilities Stock Performance

Shares of Canadian Utilities stock opened at C$31.16 on Monday. The company has a market cap of C$6.37 billion, a P/E ratio of 13.37, a PEG ratio of 2.38 and a beta of 0.60. 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 business has a 50-day moving average price of C$30.56 and a two-hundred day moving average price of C$30.82. Canadian Utilities has a 1-year low of C$28.13 and a 1-year high of C$39.60.

Canadian Utilities (TSE:CU) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.02. Canadian Utilities had a return on equity of 10.08% and a net margin of 18.63%. The company had revenue of C$974.00 million during the quarter.

Canadian Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.453 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.82%. Canadian Utilities’s dividend payout ratio is presently 77.68%.

Insider Transactions at Canadian Utilities

In other news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the business’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 value of C$1,544,530.92. 37.97% of the stock is owned by corporate insiders.

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.