Atb Cap Markets Expects Reduced Earnings for Capital Power

Capital Power Co. (TSE:CPX) – Analysts at Atb Cap Markets cut their Q3 2024 earnings estimates for Capital Power in a note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings of $1.03 per share for the quarter, down from their previous forecast of $1.32. Atb Cap Markets currently has a “Strong-Buy” rating on the stock. The consensus estimate for Capital Power’s current full-year earnings is $2.82 per share.

Several other research firms have also recently commented on CPX. CIBC boosted their price target on shares of Capital Power from C$42.00 to C$45.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. BMO Capital Markets boosted their target price on shares of Capital Power from C$42.00 to C$47.00 in a research note on Thursday, September 5th. TD Securities raised their price target on Capital Power from C$47.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Scotiabank upped their price objective on Capital Power from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their target price on Capital Power from C$39.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$46.44.

Capital Power Stock Performance

The stock’s 50 day moving average is C$47.50 and its 200-day moving average is C$41.99. The company has a debt-to-equity ratio of 133.46, a quick ratio of 0.55 and a current ratio of 0.88. Capital Power has a 52-week low of C$33.90 and a 52-week high of C$52.44. The firm has a market capitalization of C$6.58 billion, a P/E ratio of 10.03, a PEG ratio of 0.91 and a beta of 0.64.

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

Insider Activity

In other news, Senior Officer Bryan Deneve sold 6,100 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$50.55, for a total transaction of C$308,355.00. Over the last three months, insiders sold 6,400 shares of company stock valued at $322,274. Insiders own 0.17% of the company’s stock.

Capital Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.652 dividend. This represents a $2.61 dividend on an annualized basis and a dividend yield of ∞. This is a boost from Capital Power’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 30th. Capital Power’s payout ratio is presently 51.68%.

About Capital Power

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.