Capital Power Co. to Post Q1 2024 Earnings of $0.77 Per Share, Raymond James Forecasts (TSE:CPX)

Capital Power Co. (TSE:CPX) – Analysts at Raymond James reduced their Q1 2024 earnings per share (EPS) estimates for shares of Capital Power in a report released on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the company will post earnings per share of $0.77 for the quarter, down from their previous forecast of $1.08. Raymond James currently has a “Market Perform” rating and a $45.00 price objective on the stock. The consensus estimate for Capital Power’s current full-year earnings is $3.15 per share. Raymond James also issued estimates for Capital Power’s Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $1.08 EPS and FY2024 earnings at $3.62 EPS.

CPX has been the topic of several other research reports. Royal Bank of Canada lowered their price target on Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Thursday, February 29th. CIBC decreased their price objective on Capital Power from C$43.00 to C$40.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Scotiabank decreased their price objective on Capital Power from C$47.00 to C$45.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 17th. ATB Capital decreased their price objective on Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 17th. Finally, Desjardins decreased their price objective on Capital Power from C$51.00 to C$49.00 and set a “buy” rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Capital Power currently has a consensus rating of “Hold” and an average price target of C$45.73.

Capital Power Stock Performance

TSE:CPX opened at C$35.93 on Monday. The business’s 50-day moving average price is C$37.39 and its two-hundred day moving average price is C$37.31. Capital Power has a twelve month low of C$35.11 and a twelve month high of C$46.73. The stock has a market cap of C$4.54 billion, a P/E ratio of 5.95, a PEG ratio of 0.91 and a beta of 0.57. The company has a quick ratio of 0.55, a current ratio of 1.29 and a debt-to-equity ratio of 153.08.

Capital Power (TSE:CPX) last released its quarterly earnings results on Wednesday, February 28th. The company reported C$0.74 earnings per share for the quarter, beating the consensus estimate of C$0.72 by C$0.02. Capital Power had a return on equity of 26.11% and a net margin of 18.29%. The firm had revenue of C$984.00 million for the quarter.

Insider Buying and Selling

In related news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$39.22, for a total transaction of C$204,296.98. 0.17% of the stock is owned by corporate insiders.

Capital Power Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.615 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.46 annualized dividend and a yield of 6.85%. Capital Power’s payout ratio is 40.73%.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.