Power Co. of Canada (TSE:POW) Hits New 1-Year High – Still a Buy?

Power Co. of Canada (TSE:POW) shares hit a new 52-week high on Tuesday . The company traded as high as C$80.95 and last traded at C$80.85, with a volume of 150106 shares trading hands. The stock had previously closed at C$79.76.

Analyst Ratings Changes

POW has been the topic of several research reports. Scotiabank boosted their price objective on shares of Power Co. of Canada from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. TD Securities cut shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce lifted their target price on shares of Power Co. of Canada from C$75.00 to C$78.00 and gave the stock a “hold” rating in a report on Friday, March 20th. BMO Capital Markets lifted their target price on shares of Power Co. of Canada from C$69.00 to C$79.00 and gave the stock a “market perform” rating in a report on Tuesday, May 12th. Finally, National Bank Financial lifted their target price on shares of Power Co. of Canada from C$77.00 to C$85.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$83.10.

Power Co. of Canada Price Performance

The company has a quick ratio of 107.64, a current ratio of 1.44 and a debt-to-equity ratio of 105.91. The firm’s fifty day moving average price is C$71.09 and its two-hundred day moving average price is C$70.17. The stock has a market capitalization of C$51.01 billion, a PE ratio of 19.46, a PEG ratio of 0.57 and a beta of 0.71.

Power Co. of Canada (TSE:POW) last released its quarterly earnings data on Tuesday, May 12th. The financial services provider reported C$1.43 earnings per share for the quarter. Power Co. of Canada had a net margin of 6.98% and a return on equity of 10.81%. The firm had revenue of C$10.96 billion during the quarter. On average, equities analysts predict that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

About Power Co. of Canada

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.