Power Co. of Canada (TSE:POW) Sets New 12-Month High at $43.40

Power Co. of Canada (TSE:POW) hit a new 52-week high during trading on Thursday . The company traded as high as C$43.40 and last traded at C$43.30, with a volume of 16022 shares traded. The stock had previously closed at C$43.11.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on POW. TD Securities raised Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Jefferies Financial Group dropped their target price on shares of Power Co. of Canada from C$45.00 to C$44.00 in a research report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of Power Co. of Canada from C$46.00 to C$47.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. Desjardins lifted their price objective on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, CIBC cut their target price on Power Co. of Canada from C$43.00 to C$40.00 in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$43.28.

Power Co. of Canada Stock Performance

The firm has a market capitalization of C$25.74 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.95 and a beta of 1.09. 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 stock’s 50-day moving average is C$40.06 and its 200-day moving average is C$39.02.

Power Co. of Canada (TSE:POW) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.12 by C$0.05. Power Co. of Canada had a net margin of 8.29% and a return on equity of 11.29%. The company had revenue of C$9.91 billion during the quarter. On average, analysts predict that Power Co. of Canada will post 4.9731622 EPS for the current fiscal year.

Power Co. of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a $0.563 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.25 annualized dividend and a yield of 5.18%. Power Co. of Canada’s dividend payout ratio is presently 51.25%.

About Power Co. of Canada

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.