Royal Bank Of Canada Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price

Power Co. of Canada (TSE:POW) had its price objective upped by stock analysts at Royal Bank Of Canada from C$68.00 to C$69.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price points to a potential downside of 1.09% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Desjardins lifted their price objective on Power Co. of Canada from C$60.00 to C$65.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. TD Securities downgraded shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Scotiabank upped their target price on shares of Power Co. of Canada from C$69.00 to C$76.00 in a research note on Thursday, November 13th. Jefferies Financial Group raised their price target on shares of Power Co. of Canada from C$60.00 to C$68.00 in a research report on Friday, November 14th. Finally, CIBC set a C$75.00 price objective on Power Co. of Canada and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Power Co. of Canada currently has a consensus rating of “Hold” and an average price target of C$69.63.

Power Co. of Canada Stock Performance

Shares of Power Co. of Canada stock traded down C$0.21 during trading on Monday, hitting C$69.76. The company’s stock had a trading volume of 492,263 shares, compared to its average volume of 1,774,762. Power Co. of Canada has a 52 week low of C$42.50 and a 52 week high of C$74.91. The company has a market capitalization of C$44.44 billion, a PE ratio of 14.72, a P/E/G ratio of 0.57 and a beta of 0.93. The company has a fifty day simple moving average of C$71.91 and a two-hundred day simple moving average of C$63.85.

Power Co. of Canada (TSE:POW) last announced its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$1.35 earnings per share for the quarter. Power Co. of Canada had a net margin of 4.45% and a return on equity of 10.06%. The business had revenue of C$9.89 billion for the quarter. As a group, analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current year.

About Power Co. of Canada

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.