Power Co. of Canada (TSE:POW) Sets New 52-Week High – Here’s Why

Power Co. of Canada (TSE:POW)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as C$72.77 and last traded at C$72.32, with a volume of 111585 shares traded. The stock had previously closed at C$72.32.

Analyst Ratings Changes

POW has been the subject of a number of analyst reports. CIBC set a C$75.00 target price on shares of Power Co. of Canada and gave the company a “neutral” rating in a research note on Wednesday, November 19th. National Bankshares increased their target price on Power Co. of Canada from C$58.00 to C$64.00 and gave the stock a “sector perform” rating in a research note on Monday, October 27th. Jefferies Financial Group upped their price target on shares of Power Co. of Canada from C$60.00 to C$68.00 in a research note on Friday, November 14th. Scotiabank lifted their target price on shares of Power Co. of Canada from C$69.00 to C$76.00 in a report on Thursday, November 13th. Finally, BMO Capital Markets raised their price target on shares of Power Co. of Canada from C$60.00 to C$71.00 in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$69.50.

Power Co. of Canada Price Performance

The company has a 50-day moving average price of C$66.45 and a 200 day moving average price of C$59.25. The firm has a market capitalization of C$46.40 billion, a PE ratio of 15.36, a P/E/G ratio of 0.57 and a beta of 0.95.

Power Co. of Canada (TSE:POW) last issued its earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 EPS for the quarter. Power Co. of Canada had a net margin of 4.45% and a return on equity of 10.06%. The business had revenue of C$9.89 billion for the quarter. As a group, research analysts anticipate that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

Power Co. of Canada Company Profile

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies).