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

Shares of Power Co. of Canada (TSE:POW) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$83.87 and last traded at C$82.35, with a volume of 2531761 shares. The stock had previously closed at C$83.33.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on POW shares. BMO Capital Markets lifted 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. Scotia lifted their price objective on Power Co. of Canada from C$79.00 to C$90.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 14th. TD Securities cut Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Jefferies Financial Group lifted their price objective on Power Co. of Canada from C$73.00 to C$90.00 in a report on Thursday, May 14th. Finally, Desjardins lifted their price objective on Power Co. of Canada from C$81.00 to C$87.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Power Co. of Canada has a consensus rating of “Hold” and a consensus price target of C$83.10.

Power Co. of Canada Stock Performance

The company has a market capitalization of C$51.90 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.57 and a beta of 0.71. The stock has a fifty day moving average price of C$74.32 and a two-hundred day moving average price of C$71.25. The company has a quick ratio of 107.64, a current ratio of 0.87 and a debt-to-equity ratio of 86.98.

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 return on equity of 11.34% and a net margin of 7.93%.The company had revenue of C$10.96 billion during the quarter. As a group, analysts forecast that Power Co. of Canada will post 4.9289678 EPS for the current fiscal 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). Power Corp. bought out the remaining shares of Power Financial in February 2020.