Power Co. of Canada (TSE:POW) Sets New 1-Year High – Here’s Why

Shares of Power Co. of Canada (TSE:POW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$83.87 and last traded at C$82.35, with a volume of 2531761 shares changing hands. The stock had previously closed at C$83.33.

Analysts Set New Price Targets

A number of research firms have issued reports on POW. Canadian Imperial Bank of Commerce boosted their price target on Power Co. of Canada from C$75.00 to C$78.00 and gave the company a “hold” rating in a research report on Friday, March 20th. Scotiabank boosted their price target on Power Co. of Canada from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Scotia boosted their price target on Power Co. of Canada from C$79.00 to C$90.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 14th. TD Securities downgraded Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, BMO Capital Markets boosted their price target on Power Co. of Canada from C$69.00 to C$79.00 and gave the company a “market perform” rating in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$83.10.

Power Co. of Canada Price Performance

The company has a 50-day moving average price of C$74.32 and a two-hundred day moving average price of C$71.25. The company has a debt-to-equity ratio of 86.98, a current ratio of 0.87 and a quick ratio of 107.64. The company has a market cap of C$51.90 billion, a PE ratio of 19.80, a P/E/G ratio of 0.57 and a beta of 0.71.

Power Co. of Canada (TSE:POW) last issued its earnings results on Tuesday, May 12th. The financial services provider reported C$1.43 earnings per share for the quarter. Power Co. of Canada had a return on equity of 11.34% and a net margin of 7.93%.The company had revenue of C$10.96 billion during the quarter. Sell-side analysts expect that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal 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.