Power Co. of Canada (TSE:POW) Sets New 1-Year High – Time to Buy?

Power Co. of Canada (TSE:POW)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$80.95 and last traded at C$80.85, with a volume of 150106 shares changing hands. The stock had previously closed at C$79.76.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. TD Securities cut shares of Power Co. of Canada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Desjardins raised their price objective on shares of Power Co. of Canada from C$81.00 to C$87.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Jefferies Financial Group boosted their target price on Power Co. of Canada from C$73.00 to C$90.00 in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce increased their price target on Power Co. of Canada from C$75.00 to C$78.00 and gave the stock a “hold” rating in a research report on Friday, March 20th. Finally, National Bank Financial raised their price target on Power Co. of Canada from C$77.00 to C$85.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$83.10.

Power Co. of Canada Trading Up 1.6%

The company has a current ratio of 1.44, a quick ratio of 107.64 and a debt-to-equity ratio of 105.91. The stock has a market cap of C$51.65 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 0.57 and a beta of 0.71. The business’s fifty day simple moving average is C$71.71 and its 200 day simple moving average is C$70.40.

Power Co. of Canada (TSE:POW) last announced its earnings results on Tuesday, May 12th. The financial services provider reported C$1.43 earnings per share for the quarter. Power Co. of Canada had a net margin of 6.98% and a return on equity of 10.81%. The company had revenue of C$10.96 billion during the quarter. As a group, analysts expect that Power Co. of Canada will post 4.9289678 EPS for the current year.

Power Co. of Canada Company Profile

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.