Raymond James Analysts Reduce Earnings Estimates for Capital Power Corp (CPX)

Capital Power Corp (TSE:CPX) – Stock analysts at Raymond James decreased their Q3 2019 earnings estimates for Capital Power in a research report issued to clients and investors on Tuesday, May 14th. Raymond James analyst D. Quezada now forecasts that the company will post earnings of $0.44 per share for the quarter, down from their previous estimate of $0.46. Raymond James has a “Outperform” rating and a $35.50 price objective on the stock. Raymond James also issued estimates for Capital Power’s Q4 2019 earnings at $0.50 EPS.

Capital Power (TSE:CPX) last announced its earnings results on Tuesday, February 19th. The company reported C$0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.50 by C($0.17). The firm had revenue of C$335.00 million for the quarter.

Several other brokerages also recently weighed in on CPX. CIBC increased their target price on shares of Capital Power from C$32.50 to C$33.00 in a research note on Thursday, May 9th. TD Securities increased their target price on shares of Capital Power from C$31.00 to C$33.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. National Bank Financial set a C$37.00 target price on shares of Capital Power and gave the company an “outperform” rating in a research note on Tuesday, April 30th. CSFB increased their target price on shares of Capital Power from C$28.00 to C$32.00 in a research note on Thursday, April 25th. Finally, BMO Capital Markets downgraded shares of Capital Power from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$31.00 to C$30.00 in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of C$32.69.

Shares of CPX opened at C$29.65 on Thursday. Capital Power has a twelve month low of C$24.69 and a twelve month high of C$32.44. The firm has a market capitalization of $3.07 billion and a PE ratio of 12.13. The company has a current ratio of 0.95, a quick ratio of 0.57 and a debt-to-equity ratio of 81.76.

In related news, Senior Officer Darcy Trufyn sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of C$30.68, for a total value of C$276,120.00. Following the transaction, the insider now owns 36,495 shares of the company’s stock, valued at approximately C$1,119,666.60. Also, Senior Officer Bryan Deneve sold 20,904 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of C$30.00, for a total transaction of C$627,120.00. Following the completion of the transaction, the insider now directly owns 83,304 shares in the company, valued at approximately C$2,499,120.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates power generation facilities in Canada and the United States. The company generates electricity from various energy sources, including natural and landfill gas, coal, wind, waste heat, solid fuels, and solar. It owns approximately 5,100 megawatts of power generation capacity.

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