Equities Analysts Issue Forecasts for TSE:CU Q3 Earnings

Canadian Utilities Limited (TSE:CU) – Research analysts at National Bank Financial issued their Q3 2024 EPS estimates for shares of Canadian Utilities in a research note issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.35 for the quarter. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.41 per share.

Canadian Utilities (TSE:CU) last posted its quarterly earnings results on Friday, August 2nd. The company reported C$0.43 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.01. Canadian Utilities had a return on equity of 8.72% and a net margin of 16.43%. The business had revenue of C$860.00 million for the quarter.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their price target on shares of Canadian Utilities from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. National Bankshares upped their price target on Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. Scotiabank raised their price objective on Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. CIBC upped their target price on shares of Canadian Utilities from C$34.00 to C$35.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, BMO Capital Markets raised their price target on shares of Canadian Utilities from C$35.50 to C$37.00 in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$36.50.

Canadian Utilities Price Performance

Shares of CU opened at C$35.96 on Friday. The business’s fifty day moving average is C$34.88 and its 200 day moving average is C$32.27. Canadian Utilities has a 12-month low of C$28.60 and a 12-month high of C$37.10. The company has a quick ratio of 1.30, a current ratio of 1.29 and a debt-to-equity ratio of 149.94. The stock has a market cap of C$7.37 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.38 and a beta of 0.66.

Canadian Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be issued a $0.453 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Thursday, November 7th. Canadian Utilities’s dividend payout ratio (DPR) is currently 91.41%.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.