Power Co. of Canada (TSE:POW) Sets New 52-Week High – What’s Next?

Power Co. of Canada (TSE:POW) hit a new 52-week high 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on POW shares. TD Securities downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. National Bank Financial increased their price objective on shares of Power Co. of Canada from C$77.00 to C$85.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. Jefferies Financial Group lifted their price objective on shares of Power Co. of Canada from C$73.00 to C$90.00 in a research note on Thursday, May 14th. BMO Capital Markets boosted 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 research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Power Co. of Canada from C$75.00 to C$78.00 and gave the company a “hold” rating in a research note on Friday, March 20th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$83.10.

Power Co. of Canada Stock Performance

The company has a market capitalization of C$52.60 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 0.57 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 107.64 and a debt-to-equity ratio of 86.98. The stock has a 50-day simple moving average of C$75.71 and a 200-day simple moving average of C$71.63.

Power Co. of Canada (TSE:POW) last released its quarterly 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 during the quarter. Power Co. of Canada had a net margin of 7.93% and a return on equity of 11.34%. On average, analysts anticipate 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.