Q3 EPS Forecast for Power Co. of Canada Raised by Analyst

Power Co. of Canada (TSE:POW) – Research analysts at Desjardins increased their Q3 2024 earnings per share estimates for shares of Power Co. of Canada in a research report issued to clients and investors on Friday, November 1st. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $1.15 per share for the quarter, up from their previous forecast of $1.13. Desjardins has a “Buy” rating and a $44.00 price target on the stock. The consensus estimate for Power Co. of Canada’s current full-year earnings is $4.93 per share. Desjardins also issued estimates for Power Co. of Canada’s Q4 2024 earnings at $1.20 EPS, FY2024 earnings at $4.64 EPS and FY2025 earnings at $5.00 EPS.

Power Co. of Canada (TSE:POW) last announced its earnings results on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.12 by C$0.05. The business had revenue of C$9.91 billion during the quarter. Power Co. of Canada had a net margin of 8.29% and a return on equity of 11.29%.

A number of other research firms have also commented on POW. Jefferies Financial Group decreased their price target on Power Co. of Canada from C$45.00 to C$44.00 in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price on Power Co. of Canada from C$46.00 to C$47.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. National Bankshares lifted their price target on Power Co. of Canada from C$42.00 to C$47.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Scotiabank increased their price objective on shares of Power Co. of Canada from C$47.00 to C$47.50 in a report on Wednesday, July 24th. Finally, CIBC dropped their target price on shares of Power Co. of Canada from C$43.00 to C$40.00 in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$43.83.

Power Co. of Canada Stock Performance

TSE POW opened at C$44.37 on Monday. Power Co. of Canada has a 1-year low of C$33.90 and a 1-year high of C$44.86. The company has a 50 day moving average of C$42.68 and a 200-day moving average of C$40.04. The company has a current ratio of 91.78, a quick ratio of 107.64 and a debt-to-equity ratio of 48.53. The firm has a market cap of C$26.29 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.57 and a beta of 1.09.

Power Co. of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, September 27th were given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Friday, September 27th. Power Co. of Canada’s dividend payout ratio is 51.25%.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.