Power Co. of Canada (TSE:POW – Free Report) had its price target decreased by CIBC from C$43.00 to C$40.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the financial services provider’s stock.
Several other analysts have also recently commented on POW. Scotiabank raised their price objective on shares of Power Co. of Canada from C$44.00 to C$45.00 and gave the company a sector perform rating in a research note on Wednesday, January 31st. TD Securities cut shares of Power Co. of Canada from a buy rating to a hold rating and raised their price objective for the company from C$40.00 to C$42.00 in a research note on Friday, March 22nd. Royal Bank of Canada upgraded shares of Power Co. of Canada from a sector perform rating to an outperform rating and raised their price objective for the company from C$41.00 to C$45.00 in a research note on Thursday, January 4th. Desjardins raised their price objective on shares of Power Co. of Canada from C$39.00 to C$40.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, National Bankshares raised their price objective on shares of Power Co. of Canada from C$39.00 to C$41.00 in a research note on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of C$41.44.
Check Out Our Latest Stock Analysis on Power Co. of Canada
Power Co. of Canada Stock Up 0.5 %
Power Co. of Canada (TSE:POW – Get Free Report) last released its earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 EPS for the quarter, missing the consensus estimate of C$1.00 by C($0.11). Power Co. of Canada had a return on equity of 8.94% and a net margin of 6.89%. The firm had revenue of C$21.37 billion during the quarter. As a group, analysts expect that Power Co. of Canada will post 4.5349398 EPS for the current year.
Power Co. of Canada Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.563 per share. 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 6.16%. The ex-dividend date is Wednesday, March 27th. Power Co. of Canada’s dividend payout ratio (DPR) is 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.
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