Power Co. of Canada to Issue Quarterly Dividend of $0.56 (TSE:POW)

Power Co. of Canada (TSE:POW) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.563 per share by the financial services provider on Thursday, August 1st. This represents a $2.25 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend is Friday, June 28th.

Power Co. of Canada Trading Down 0.3 %

Shares of TSE:POW traded down C$0.14 during trading on Friday, reaching C$40.26. The stock had a trading volume of 280,397 shares, compared to its average volume of 2,894,914. Power Co. of Canada has a fifty-two week low of C$32.33 and a fifty-two week high of C$40.59. The business has a fifty day moving average price of C$37.95 and a 200-day moving average price of C$37.56. The stock has a market cap of C$23.96 billion, a P/E ratio of 11.79, a PEG ratio of 0.95 and a beta of 1.09. The company has a quick ratio of 107.64, a current ratio of 23.47 and a debt-to-equity ratio of 50.75.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing the consensus estimate of C$1.00 by C($0.11). Power Co. of Canada had a net margin of 6.89% and a return on equity of 8.94%. The business had revenue of C$21.37 billion during the quarter. As a group, analysts anticipate that Power Co. of Canada will post 4.5329341 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

POW has been the topic of several recent analyst reports. TD Securities downgraded Power Co. of Canada from a “buy” rating to a “hold” rating and increased their target price for the stock from C$40.00 to C$42.00 in a research report on Friday, March 22nd. Jefferies Financial Group raised their target price on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research report on Tuesday. CIBC boosted their target price on shares of Power Co. of Canada from C$40.00 to C$43.00 in a report on Thursday. BMO Capital Markets increased their price target on shares of Power Co. of Canada from C$41.00 to C$42.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Scotiabank boosted their price objective on shares of Power Co. of Canada from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$42.30.

Power Co. of Canada Company Profile

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.