Power Co. of Canada (TSE:POW) Announces Quarterly Earnings Results

Power Co. of Canada (TSE:POW) released its earnings results on Wednesday. The financial services provider reported C$1.36 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$8.84 billion for the quarter. Power Co. of Canada had a net margin of 9.73% and a return on equity of 12.83%.

Power Co. of Canada Stock Performance

Shares of POW traded up C$1.23 during mid-day trading on Friday, reaching C$65.06. 1,566,639 shares of the company’s stock traded hands, compared to its average volume of 2,172,560. Power Co. of Canada has a 12 month low of C$47.05 and a 12 month high of C$74.91. The stock has a market capitalization of C$41.26 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. The business’s 50-day moving average price is C$67.71 and its 200-day moving average price is C$66.58. The company has a debt-to-equity ratio of 84.71, a quick ratio of 107.64 and a current ratio of 3.95.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Scotiabank raised their price objective on Power Co. of Canada from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. National Bank Financial increased their target price on Power Co. of Canada from C$69.00 to C$77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada raised their price target on shares of Power Co. of Canada from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. TD Securities lifted their price target on shares of Power Co. of Canada from C$73.00 to C$74.00 and gave the stock a “hold” rating in a research note on Friday, March 13th. Finally, Desjardins upped their price target on shares of Power Co. of Canada from C$78.00 to C$79.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$73.88.

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). Power Corp. bought out the remaining shares of Power Financial in February 2020.