Power Co. of Canada (TSE:POW) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Power Co. of Canada (TSE:POW)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$63.57 and traded as high as C$71.94. Power Co. of Canada shares last traded at C$70.75, with a volume of 1,866,365 shares.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Power Co. of Canada from C$60.00 to C$71.00 in a research report on Wednesday, November 12th. TD Securities cut shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. National Bankshares lifted their price target on Power Co. of Canada from C$58.00 to C$64.00 and gave the stock a “sector perform” rating in a report on Monday, October 27th. Desjardins boosted their price target on Power Co. of Canada from C$60.00 to C$65.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, CIBC set a C$75.00 price objective on Power Co. of Canada and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$69.50.

Power Co. of Canada Trading Down 1.1%

The firm has a market cap of C$44.58 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.57 and a beta of 0.93. The firm’s 50 day simple moving average is C$71.91 and its two-hundred day simple moving average is C$63.69.

Power Co. of Canada (TSE:POW) last released its earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 earnings per share for the quarter. The firm had revenue of C$9.89 billion during the quarter. Power Co. of Canada had a return on equity of 10.06% and a net margin of 4.45%. As a group, equities research analysts anticipate that Power Co. of Canada will post 4.9289678 earnings per share 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.