Canadian Utilities Limited (TSE:CU) to Post FY2024 Earnings of $2.41 Per Share, National Bank Financial Forecasts

Canadian Utilities Limited (TSE:CU) – Research analysts at National Bank Financial raised their FY2024 earnings estimates for Canadian Utilities in a research note issued to investors on Thursday, May 2nd. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $2.41 for the year, up from their prior forecast of $2.34. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.34 per share.

A number of other analysts also recently issued reports on CU. CIBC dropped their price target on Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Scotiabank lowered their price target on Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$35.29.

Canadian Utilities Price Performance

CU stock opened at C$31.16 on Monday. Canadian Utilities has a 12 month low of C$28.13 and a 12 month high of C$39.60. The firm has a 50 day moving average of C$30.56 and a 200-day moving average of C$30.82. The company has a current ratio of 1.01, a quick ratio of 1.30 and a debt-to-equity ratio of 147.99. The firm has a market capitalization of C$6.37 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last released its quarterly earnings data on Thursday, February 29th. The company reported C$0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.02. The company had revenue of C$974.00 million for the quarter. Canadian Utilities had a return on equity of 10.08% and a net margin of 18.63%.

Insider Transactions at Canadian Utilities

In related news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total value of C$1,544,530.92. 37.97% of the stock is currently owned by company insiders.

Canadian Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Thursday, May 2nd will be issued a $0.453 dividend. This represents a $1.81 annualized dividend and a dividend yield of 5.82%. The ex-dividend date is Wednesday, May 1st. Canadian Utilities’s dividend payout ratio is 77.68%.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.