Power Co. of Canada (TSE:POW) Sets New 52-Week High – Should You Buy?

Shares of Power Co. of Canada (TSE:POW) reached a new 52-week high on Tuesday . The company traded as high as C$77.09 and last traded at C$77.07, with a volume of 684801 shares. The stock had previously closed at C$75.73.

Wall Street Analyst Weigh In

POW has been the topic of a number of recent research reports. National Bank Financial lifted their target price on Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 4th. Desjardins lifted their target price on Power Co. of Canada from C$78.00 to C$79.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Scotiabank lifted their target price on Power Co. of Canada from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Thursday, February 19th. Canadian Imperial Bank of Commerce lifted their price objective on Power Co. of Canada from C$75.00 to C$78.00 and gave the company a “hold” rating in a report on Friday, March 20th. Finally, TD Securities raised Power Co. of Canada from a “hold” rating to a “buy” rating and set a C$74.00 price objective on the stock in a report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$75.38.

Power Co. of Canada Stock Up 2.0%

The company has a quick ratio of 107.64, a current ratio of 1.44 and a debt-to-equity ratio of 105.91. The business has a fifty day simple moving average of C$68.78 and a two-hundred day simple moving average of C$68.99. The company has a market capitalization of C$48.89 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.57 and a beta of 0.67.

Power Co. of Canada (TSE:POW) last released its quarterly earnings data on Wednesday, March 18th. The financial services provider reported C$1.36 earnings per share for the quarter. The company had revenue of C$8.84 billion for the quarter. Power Co. of Canada had a return on equity of 10.81% and a net margin of 6.98%. Equities analysts expect that Power Co. of Canada will post 4.9289678 EPS 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.