Scotiabank Cuts Capital Power (TSE:CPX) Price Target to C$79.00

Capital Power (TSE:CPX) had its target price trimmed by Scotiabank from C$80.00 to C$79.00 in a research report released on Thursday,BayStreet.CA reports. The firm currently has a sector outperform rating on the stock.

A number of other research firms have also issued reports on CPX. Wells Fargo & Company boosted their target price on shares of Capital Power from C$72.00 to C$75.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Desjardins raised their price target on shares of Capital Power from C$82.00 to C$88.00 and gave the company a “top pick” rating in a research note on Friday, July 3rd. BMO Capital Markets lifted their price target on Capital Power from C$75.00 to C$85.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce reduced their price objective on Capital Power from C$85.00 to C$83.00 in a research report on Thursday. Finally, National Bank Financial increased their price objective on Capital Power from C$75.00 to C$82.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Capital Power presently has an average rating of “Buy” and a consensus target price of C$80.11.

Capital Power Price Performance

Shares of TSE CPX opened at C$65.87 on Thursday. The company has a debt-to-equity ratio of 150.64, a current ratio of 0.80 and a quick ratio of 0.55. The firm has a market capitalization of C$10.31 billion, a PE ratio of -598.82, a P/E/G ratio of 0.91 and a beta of 0.63. Capital Power has a 1-year low of C$56.08 and a 1-year high of C$77.02. The business’s fifty day moving average price is C$71.92 and its two-hundred day moving average price is C$66.25.

Capital Power (TSE:CPX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C($0.33) earnings per share (EPS) for the quarter. The firm had revenue of C$714.00 million for the quarter. Capital Power had a net margin of 3.05% and a return on equity of 2.31%. On average, research analysts expect that Capital Power will post 2.8197088 EPS for the current year.

Insider Buying and Selling at Capital Power

In related news, insider Jason Daniel Comandante sold 1,500 shares of Capital Power stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$74.88, for a total transaction of C$112,320.00. Following the sale, the insider directly owned 8,711 shares in the company, valued at C$652,279.68. The trade was a 14.69% decrease in their ownership of the stock. 0.17% of the stock is currently owned by corporate insiders.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.