Capital Power Co. (TSE:CPX) to Post FY2024 Earnings of $4.44 Per Share, Atb Cap Markets Forecasts

Capital Power Co. (TSE:CPX) – Stock analysts at Atb Cap Markets cut their FY2024 EPS estimates for shares of Capital Power in a report released on Monday, August 26th. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings of $4.44 per share for the year, down from their previous estimate of $4.53. Atb Cap Markets currently has a “Strong-Buy” rating on the stock.

CPX has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of Capital Power from C$39.00 to C$44.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. BMO Capital Markets boosted their price objective on shares of Capital Power from C$38.00 to C$42.00 in a report on Thursday, August 1st. CIBC boosted their price objective on shares of Capital Power from C$42.00 to C$45.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. ATB Capital upped their price target on shares of Capital Power from C$40.00 to C$42.00 in a report on Wednesday, July 24th. Finally, Desjardins upped their price target on shares of Capital Power from C$53.00 to C$54.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Capital Power currently has an average rating of “Moderate Buy” and an average target price of C$45.89.

Capital Power Trading Up 0.6 %

Shares of TSE CPX opened at C$44.80 on Thursday. Capital Power has a 1-year low of C$33.90 and a 1-year high of C$45.15. The company has a market cap of C$5.82 billion, a PE ratio of 8.87, a P/E/G ratio of 0.91 and a beta of 0.63. The company has a current ratio of 0.88, a quick ratio of 0.55 and a debt-to-equity ratio of 133.46. The company has a 50-day moving average of C$41.68 and a two-hundred day moving average of C$39.17.

Capital Power (TSE:CPX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.63 by C($0.12). Capital Power had a net margin of 16.77% and a return on equity of 19.49%. The firm had revenue of C$774.00 million for the quarter.

Capital Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.652 per share. This is a positive change from Capital Power’s previous quarterly dividend of $0.62. This represents a $2.61 annualized dividend and a yield of 5.82%. The ex-dividend date is Monday, September 30th. Capital Power’s dividend payout ratio is 51.68%.

Insiders Place Their Bets

In other news, Senior Officer Bryan Deneve sold 2,441 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of C$40.38, for a total value of C$98,577.10. Insiders own 0.17% of the company’s stock.

Capital Power Company Profile

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.