Canadian Utilities Limited to Post Q1 2024 Earnings of $0.80 Per Share, National Bank Financial Forecasts (TSE:CU)

Canadian Utilities Limited (TSE:CU) – Analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of Canadian Utilities in a research note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings of $0.80 per share for the quarter. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.35 per share.

Canadian Utilities (TSE:CU) last released its earnings results on Thursday, February 29th. The company reported C$0.71 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.02. The firm had revenue of C$974.00 million during the quarter. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%.

CU has been the topic of several other research reports. Scotiabank decreased their price objective on Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a report on Monday. CIBC decreased their price objective on Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$35.29.

Canadian Utilities Stock Up 0.5 %

Canadian Utilities stock opened at C$30.44 on Thursday. The firm has a fifty day moving average price of C$30.53 and a two-hundred day moving average price of C$30.74. The firm has a market cap of C$6.22 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 2.38 and a beta of 0.60. The company has a debt-to-equity ratio of 147.99, a current ratio of 1.01 and a quick ratio of 1.30. Canadian Utilities has a fifty-two week low of C$28.13 and a fifty-two week high of C$39.87.

Insider Transactions at Canadian Utilities

In other Canadian Utilities news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total transaction of C$1,544,530.92. 38.21% of the stock is owned by corporate insiders.

Canadian Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.453 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.95%. Canadian Utilities’s dividend payout ratio (DPR) is currently 77.68%.

Canadian Utilities Company Profile

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.