Power Co. of Canada (TSE:POW) Given New C$43.00 Price Target at CIBC

Power Co. of Canada (TSE:POW) had its target price upped by CIBC from C$40.00 to C$43.00 in a research report sent to investors on Thursday, BayStreet.CA reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on POW. BMO Capital Markets boosted their price target on Power Co. of Canada from C$38.00 to C$41.00 in a report on Friday, March 15th. Desjardins boosted their price target on Power Co. of Canada from C$39.00 to C$40.00 and gave the company a buy rating in a report on Friday, February 2nd. Scotiabank upped their price objective on Power Co. of Canada from C$44.00 to C$45.00 and gave the stock a sector perform rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada upgraded Power Co. of Canada from a sector perform rating to an outperform rating and upped their price objective for the stock from C$41.00 to C$45.00 in a report on Thursday, January 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of C$41.78.

Power Co. of Canada Trading Down 4.6 %

Shares of POW opened at C$37.98 on Thursday. The stock has a fifty day moving average of C$38.88 and a two-hundred day moving average of C$37.21. The company has a debt-to-equity ratio of 49.89, a quick ratio of 107.64 and a current ratio of 45.83. The company has a market capitalization of C$22.82 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.95 and a beta of 1.11. Power Co. of Canada has a fifty-two week low of C$32.33 and a fifty-two week high of C$40.30.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing the consensus estimate of C$1.00 by C($0.11). The business had revenue of C$21.37 billion during the quarter. Power Co. of Canada had a net margin of 3.29% and a return on equity of 7.08%. As a group, analysts forecast that Power Co. of Canada will post 4.4763006 EPS for the current year.

Power Co. of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Thursday, March 28th will be issued a $0.563 dividend. This is an increase from Power Co. of Canada’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a yield of 5.93%. The ex-dividend date is Wednesday, March 27th. Power Co. of Canada’s dividend payout ratio is currently 83.33%.

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, disability, critical illness, accidental death, dismemberment, health and dental protection, and creditor insurance; retirement and investment management; fund and asset management; reinsurance and retrocession; investment advisory, financial planning, and related services; fund products; and protection and wealth management services.