National Bank Financial Comments on Power Co. of Canada’s FY2024 Earnings (TSE:POW)

Power Co. of Canada (TSE:POW) – Stock analysts at National Bank Financial lifted their FY2024 EPS estimates for Power Co. of Canada in a research note issued to investors on Monday, April 29th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will earn $4.62 per share for the year, up from their previous forecast of $4.54. The consensus estimate for Power Co. of Canada’s current full-year earnings is $4.53 per share.

POW has been the subject of several other research reports. National Bankshares boosted their target price on shares of Power Co. of Canada from C$39.00 to C$41.00 in a research note on Thursday, March 21st. TD Securities lowered shares of Power Co. of Canada from a “buy” rating to a “hold” rating and boosted their target price for the company from C$40.00 to C$42.00 in a research note on Friday, March 22nd. Desjardins boosted their target price 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. BMO Capital Markets boosted their target price on shares of Power Co. of Canada from C$38.00 to C$41.00 in a research note on Friday, March 15th. Finally, Royal Bank of Canada upgraded shares of Power Co. of Canada from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$41.00 to C$45.00 in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$41.44.

Power Co. of Canada Stock Up 0.5 %

POW stock opened at C$36.86 on Thursday. The company has a debt-to-equity ratio of 50.75, a current ratio of 23.47 and a quick ratio of 107.64. Power Co. of Canada has a 1-year low of C$32.33 and a 1-year high of C$40.30. The firm has a fifty day moving average price of C$38.01 and a two-hundred day moving average price of C$37.40. The firm has a market cap of C$21.94 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 0.95 and a beta of 1.11.

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

Power Co. of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Thursday, March 28th were paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date was Wednesday, March 27th. This is an increase from Power Co. of Canada’s previous quarterly dividend of $0.53. Power Co. of Canada’s payout ratio is currently 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.