Power Co. of Canada (TSE:POW) Sets New 1-Year High – Here’s What Happened

Power Co. of Canada (TSE:POW) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$87.47 and last traded at C$87.29, with a volume of 66505 shares changing hands. The stock had previously closed at C$86.62.

Analysts Set New Price Targets

POW has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Power Co. of Canada from C$73.00 to C$90.00 in a report on Thursday, May 14th. TD cut shares of Power Co. of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$74.00 to C$84.00 in a report on Thursday, May 14th. Royal Bank Of Canada boosted their price objective on Power Co. of Canada from C$73.00 to C$86.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. National Bank Financial boosted their price objective on Power Co. of Canada from C$77.00 to C$85.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Finally, BMO Capital Markets boosted their price objective on Power Co. of Canada from C$69.00 to C$79.00 and gave the stock a “market perform” rating in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$83.10.

Power Co. of Canada Stock Performance

The company has a market cap of C$55.59 billion, a PE ratio of 21.20, a PEG ratio of 0.57 and a beta of 0.73. The company has a quick ratio of 107.64, a current ratio of 0.87 and a debt-to-equity ratio of 86.98. The company has a 50-day moving average of C$78.29 and a 200-day moving average of C$72.41.

Power Co. of Canada (TSE:POW) last released its quarterly earnings results on Tuesday, May 12th. The financial services provider reported C$1.43 earnings per share for the quarter. Power Co. of Canada had a net margin of 7.93% and a return on equity of 11.34%. The business had revenue of C$10.96 billion for the quarter. As a group, analysts anticipate that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

About Power Co. of Canada

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.