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

Power Co. of Canada (TSE:POW) posted its earnings results on Tuesday. The financial services provider reported C$1.43 EPS for the quarter, FiscalAI reports. Power Co. of Canada had a return on equity of 10.81% and a net margin of 6.98%.The firm had revenue of C$10.96 billion for the quarter.

Power Co. of Canada Stock Up 2.1%

Shares of TSE POW traded up C$1.65 during mid-day trading on Tuesday, reaching C$80.09. The company had a trading volume of 1,267,732 shares, compared to its average volume of 2,476,524. The company has a current ratio of 1.44, a quick ratio of 107.64 and a debt-to-equity ratio of 105.91. The firm has a 50 day simple moving average of C$69.88 and a two-hundred day simple moving average of C$69.59. The stock has a market cap of C$50.68 billion, a P/E ratio of 20.33, a PEG ratio of 0.57 and a beta of 0.71. Power Co. of Canada has a 52-week low of C$48.18 and a 52-week high of C$80.25.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on POW shares. Scotiabank lifted their price target on Power Co. of Canada from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a report on Thursday, February 19th. Canadian Imperial Bank of Commerce increased their price objective on Power Co. of Canada from C$75.00 to C$78.00 and gave the company a “hold” rating in a report on Friday, March 20th. BMO Capital Markets boosted their target price on Power Co. of Canada from C$69.00 to C$79.00 in a research note on Tuesday. TD Securities raised Power Co. of Canada from a “hold” rating to a “buy” rating and set a C$74.00 price target for the company in a report on Friday, March 20th. Finally, National Bank Financial increased their price target on shares of 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. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$76.38.

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.