National Bank Financial Forecasts TSE:CU FY2024 Earnings

Canadian Utilities Limited (TSE:CU) – Equities research analysts at National Bank Financial upped their FY2024 earnings per share estimates for Canadian Utilities in a research report issued to clients and investors on Sunday, November 17th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $2.39 per share for the year, up from their prior estimate of $2.37. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.41 per share.

CU has been the topic of a number of other reports. BMO Capital Markets raised their price target on shares of Canadian Utilities from C$35.50 to C$37.00 in a research note on Thursday, September 5th. Scotiabank raised their target price on shares of Canadian Utilities from C$34.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. CIBC raised 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. Royal Bank of Canada raised their target price on shares of Canadian Utilities from C$38.00 to C$39.00 in a research note on Friday, November 15th. Finally, National Bankshares raised their target price on shares of Canadian Utilities from C$34.00 to C$37.00 in a research note on Friday, August 23rd.

Canadian Utilities Trading Up 2.1 %

CU stock opened at C$35.94 on Wednesday. The company’s 50-day simple moving average is C$35.50 and its 200-day simple moving average is C$32.88. The company has a quick ratio of 1.30, a current ratio of 1.29 and a debt-to-equity ratio of 149.94. Canadian Utilities has a 52-week low of C$29.15 and a 52-week high of C$37.10. The firm has a market cap of C$7.37 billion, a P/E ratio of 17.77, a PEG 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 paid a dividend of $0.453 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.81 annualized dividend and a yield of 5.04%. Canadian Utilities’s dividend payout ratio 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.