Power Co. of Canada (TSE:POW) Upgraded to “Outperform” at Royal Bank Of Canada

Power Co. of Canada (TSE:POW) was upgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Friday,BayStreet.CA reports. The firm currently has a C$73.00 price target on the financial services provider’s stock, up from their previous price target of C$69.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 12.05% from the stock’s previous close.

Several other brokerages also recently weighed in on POW. Scotiabank upped their target price on Power Co. of Canada from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. National Bank Financial boosted their price target on shares of Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 4th. TD Securities upped their price objective on shares of Power Co. of Canada from C$73.00 to C$74.00 and gave the stock a “hold” rating in a research report on Friday, March 13th. Finally, Desjardins increased their price objective on shares of Power Co. of Canada from C$78.00 to C$79.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Power Co. of Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$75.38.

Power Co. of Canada Price Performance

Shares of Power Co. of Canada stock traded up C$1.32 on Friday, hitting C$65.15. The company’s stock had a trading volume of 1,735,934 shares, compared to its average volume of 2,176,090. The company has a market capitalization of C$41.31 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. Power Co. of Canada has a 1 year low of C$47.05 and a 1 year high of C$74.91. The company has a debt-to-equity ratio of 84.71, a quick ratio of 107.64 and a current ratio of 3.95. The firm has a fifty day moving average price of C$67.71 and a 200-day moving average price of C$66.58.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings results on Wednesday, March 18th. The financial services provider reported C$1.36 earnings per share (EPS) for the quarter. Power Co. of Canada had a return on equity of 12.83% and a net margin of 9.73%.The company had revenue of C$8.84 billion for the quarter. As a group, sell-side analysts anticipate that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal 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.