CIBC Cuts Power Co. of Canada (TSE:POW) Price Target to C$40.00

Power Co. of Canada (TSE:POW) had its target price reduced by research analysts at CIBC from C$43.00 to C$40.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. CIBC’s price target suggests a potential upside of 9.53% from the stock’s previous close.

POW has been the subject of a number of other reports. National Bankshares upped their price objective on shares of Power Co. of Canada from C$39.00 to C$41.00 in a report on Thursday, March 21st. TD Securities lowered shares of Power Co. of Canada from a “buy” rating to a “hold” rating and upped their price objective for the company from C$40.00 to C$42.00 in a research report on Friday, March 22nd. Scotiabank increased their price target on shares of Power Co. of Canada from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. BMO Capital Markets raised their price objective on shares of Power Co. of Canada from C$38.00 to C$41.00 in a report on Friday, March 15th. Finally, Desjardins raised their price objective on shares of Power Co. of Canada from C$39.00 to C$40.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$41.44.

Power Co. of Canada Price Performance

POW traded down C$0.12 during trading on Friday, reaching C$36.52. The stock had a trading volume of 463,802 shares, compared to its average volume of 2,864,503. The firm has a market capitalization of C$21.74 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.95 and a beta of 1.11. The company has a quick ratio of 107.64, a current ratio of 23.47 and a debt-to-equity ratio of 50.75. Power Co. of Canada has a 1-year low of C$32.33 and a 1-year high of C$40.30. The stock has a 50 day moving average of C$38.16 and a two-hundred day moving average of C$37.33.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.00 by C($0.11). Power Co. of Canada had a net margin of 6.89% and a return on equity of 8.94%. The company had revenue of C$21.37 billion during the quarter. As a group, equities analysts anticipate that Power Co. of Canada will post 4.5349398 EPS for the current fiscal year.

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.