Royal Bank Of Canada Issues Positive Forecast for Canadian Utilities (TSE:CU) Stock Price

Canadian Utilities (TSE:CU) had its target price boosted by research analysts at Royal Bank Of Canada from C$49.00 to C$50.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 4.62% from the stock’s current price.

A number of other brokerages have also recently weighed in on CU. Canadian Imperial Bank of Commerce lifted their target price on Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. TD Securities lifted their price target on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Finally, National Bank Financial increased their price target on Canadian Utilities from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a report on Thursday. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Utilities has an average rating of “Hold” and a consensus target price of C$46.83.

Canadian Utilities Trading Down 2.4%

Shares of CU stock traded down C$1.16 during mid-day trading on Thursday, hitting C$47.79. 197,300 shares of the company’s stock were exchanged, compared to its average volume of 583,094. The stock has a market cap of C$13.01 billion, a price-to-earnings ratio of 318.60, a PEG ratio of 2.38 and a beta of 0.60. The stock has a 50-day simple moving average of C$48.52 and a two-hundred day simple moving average of C$44.66. Canadian Utilities has a fifty-two week low of C$36.23 and a fifty-two week high of C$51.05. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 194.86.

Canadian Utilities (TSE:CU) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. Canadian Utilities had a net margin of 3.22% and a return on equity of 1.74%. The company had revenue of C$1.08 billion during the quarter. Equities analysts expect that Canadian Utilities will post 2.4063556 EPS for the current fiscal year.

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.