Canadian Imperial Bank of Commerce Issues Pessimistic Forecast for Hydro One (TSE:H) Stock Price

Hydro One (TSE:H) had its price objective dropped by equities researchers at Canadian Imperial Bank of Commerce from C$59.00 to C$56.00 in a note issued to investors on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 8.61% from the company’s current price.

H has been the subject of several other reports. Royal Bank Of Canada upped their price objective on Hydro One from C$58.00 to C$60.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. National Bank Financial lifted their target price on Hydro One from C$56.00 to C$61.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Jefferies Financial Group lowered Hydro One from a “hold” rating to a “moderate sell” rating in a research report on Monday, June 1st. Finally, Barclays cut their target price on Hydro One from C$63.00 to C$61.00 in a research note on Thursday, August 13th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$57.27.

Hydro One Stock Up 0.6%

H traded up C$0.31 during trading on Tuesday, hitting C$51.56. The company had a trading volume of 301,652 shares, compared to its average volume of 1,352,684. The company has a market capitalization of C$30.94 billion, a PE ratio of 21.85, a PEG ratio of 3.17 and a beta of 0.23. Hydro One has a one year low of C$48.62 and a one year high of C$60.57. The firm’s 50-day moving average price is C$55.45 and its 200 day moving average price is C$57.15. The company has a quick ratio of 0.30, a current ratio of 0.88 and a debt-to-equity ratio of 154.61.

Hydro One (TSE:H) last released its earnings results on Wednesday, August 12th. The company reported C$0.62 earnings per share (EPS) for the quarter. The firm had revenue of C$1.23 billion during the quarter. Hydro One had a return on equity of 11.08% and a net margin of 14.87%. As a group, equities analysts expect that Hydro One will post 2.0572195 earnings per share for the current year.

About Hydro One

Hydro One operates regulated transmission and distribution assets in Ontario. The area’s largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company’s rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results. The province of Ontario holds an approximate 47% common equity stake.