Power Co. of Canada (TSE:POW) Price Target Cut to C$40.00 by Analysts at CIBC

Power Co. of Canada (TSE:POW) had its price target cut by CIBC from C$43.00 to C$40.00 in a research report released on Friday, BayStreet.CA reports. They currently have a neutral rating on the financial services provider’s stock.

Several other analysts also recently issued reports on POW. TD Securities downgraded Power Co. of Canada from a buy rating to a hold rating and lifted their target price for the company from C$40.00 to C$42.00 in a research note on Friday, March 22nd. Royal Bank of Canada upgraded Power Co. of Canada from a sector perform rating to an outperform rating and increased their target price for the company from C$41.00 to C$45.00 in a research report on Thursday, January 4th. Scotiabank lifted their price objective on shares of Power Co. of Canada from C$44.00 to C$45.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. Desjardins upped their target price on shares of Power Co. of Canada from C$39.00 to C$40.00 and gave the company a buy rating in a research report on Friday, February 2nd. Finally, National Bankshares upped their price objective on Power Co. of Canada from C$39.00 to C$41.00 in a research report on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of C$41.44.

Power Co. of Canada Price Performance

Shares of TSE:POW opened at C$36.40 on Friday. The company has a market capitalization of C$21.66 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.95 and a beta of 1.11. Power Co. of Canada has a 1-year low of C$32.33 and a 1-year high of C$40.30. The firm’s 50 day simple moving average is C$38.13 and its two-hundred day simple moving average is C$37.34. The company has a debt-to-equity ratio of 50.75, a current ratio of 23.47 and a quick ratio of 107.64.

Power Co. of Canada (TSE:POW) last released its earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.00 by C($0.11). Power Co. of Canada had a net margin of 6.89% and a return on equity of 8.94%. The firm had revenue of C$21.37 billion for the quarter. Research analysts expect that Power Co. of Canada will post 4.5349398 EPS for the current fiscal year.

Power Co. of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Thursday, March 28th will be given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 6.19%. This is an increase from Power Co. of Canada’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, March 27th. Power Co. of Canada’s dividend payout ratio (DPR) is 65.60%.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.