Canadian Utilities (TSE:CU) Posts Quarterly Earnings Results

Canadian Utilities (TSE:CU) issued its earnings results on Wednesday. The company reported C$0.51 earnings per share for the quarter, FiscalAI reports. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. The business had revenue of C$914.00 million for the quarter.

Canadian Utilities Trading Down 0.3%

CU stock traded down C$0.19 during trading on Wednesday, hitting C$54.54. The company had a trading volume of 108,840 shares, compared to its average volume of 572,325. The firm has a 50-day moving average price of C$52.15 and a 200-day moving average price of C$48.85. Canadian Utilities has a 12 month low of C$37.13 and a 12 month high of C$56.39. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 186.03. The stock has a market cap of C$14.85 billion, a price-to-earnings ratio of 545.40, a PEG ratio of 2.38 and a beta of 0.53.

Analysts Set New Price Targets

CU has been the topic of several recent analyst reports. National Bank Financial boosted their price target on Canadian Utilities from C$46.00 to C$51.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Royal Bank Of Canada upped their target price on shares of Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their target price on shares of Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. Scotiabank boosted their price target on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Finally, TD raised their price objective on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Six analysts have rated the stock with a Hold rating, According to MarketBeat.com, Canadian Utilities presently has a consensus rating of “Hold” and an average price target of C$49.14.

Canadian Utilities Company Profile

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company’s main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.