Capital Power Co. to Post FY2024 Earnings of $3.30 Per Share, Atb Cap Markets Forecasts (TSE:CPX)

Capital Power Co. (TSE:CPX) – Research analysts at Atb Cap Markets upped their FY2024 earnings estimates for Capital Power in a note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $3.30 per share for the year, up from their prior estimate of $3.06. The consensus estimate for Capital Power’s current full-year earnings is $3.15 per share.

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

CPX has been the subject of a number of other reports. ATB Capital dropped their price target on shares of Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 17th. Royal Bank of Canada dropped their price target on shares of Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a research note on Thursday, February 29th. Raymond James dropped their price target on shares of Capital Power from C$46.00 to C$45.00 and set a “market perform” rating for the company in a research note on Thursday. Scotiabank decreased their price objective on shares of Capital Power from C$47.00 to C$45.00 and set a “sector perform” rating for the company in a report on Wednesday, January 17th. Finally, CIBC decreased their price objective on shares of Capital Power from C$43.00 to C$40.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Capital Power presently has an average rating of “Hold” and a consensus target price of C$45.91.

Capital Power Trading Down 0.7 %

CPX opened at C$35.39 on Friday. The company has a debt-to-equity ratio of 153.08, a current ratio of 1.29 and a quick ratio of 0.55. The company has a market cap of C$4.47 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57. The firm has a 50 day simple moving average of C$37.47 and a 200 day simple moving average of C$37.38. Capital Power has a fifty-two week low of C$35.11 and a fifty-two week high of C$46.73.

Capital Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Capital Power’s dividend payout ratio (DPR) is presently 40.73%.

Insider Activity

In related news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$39.22, for a total transaction of C$204,296.98. Corporate insiders own 0.17% of the company’s stock.

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.