Power Co. of Canada (TSE:POW) Hits New 12-Month High – Time to Buy?

Power Co. of Canada (TSE:POW) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$84.48 and last traded at C$83.86, with a volume of 40919 shares traded. The stock had previously closed at C$83.97.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD downgraded Power Co. of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$74.00 to C$84.00 in a report on Thursday, May 14th. Scotiabank increased their price target 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 report on Thursday, February 19th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Power Co. of Canada from C$75.00 to C$78.00 and gave the company a “hold” rating in a report on Friday, March 20th. National Bank Financial upped 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 research note on Wednesday, May 13th. Finally, Royal Bank Of Canada raised their price target on shares of Power Co. of Canada from C$73.00 to C$86.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$83.10.

Power Co. of Canada Trading Up 2.1%

The company has a 50-day moving average price of C$76.41 and a 200-day moving average price of C$71.85. The firm has a market capitalization of C$53.40 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 0.57 and a beta of 0.73. The company has a debt-to-equity ratio of 86.98, a quick ratio of 107.64 and a current ratio of 0.87.

Power Co. of Canada (TSE:POW) last issued its earnings results on Tuesday, May 12th. The financial services provider reported C$1.43 earnings per share for the quarter. The business had revenue of C$10.96 billion for the quarter. Power Co. of Canada had a return on equity of 11.34% and a net margin of 7.93%. As a group, research analysts forecast that Power Co. of Canada will post 4.9289678 EPS for the current fiscal 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.