Canadian Utilities (TSE:CU) Shares Cross Below 200-Day Moving Average – Here’s Why

Canadian Utilities Limited (TSE:CU)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$50.81 and traded as low as C$49.24. Canadian Utilities shares last traded at C$50.56, with a volume of 319,410 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. BMO Capital Markets raised their target price on Canadian Utilities from C$50.00 to C$55.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Scotiabank increased their price objective on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce lifted their price objective on shares of Canadian Utilities from C$53.00 to C$55.00 in a research report on Thursday, July 30th. Royal Bank Of Canada boosted their target price on shares of Canadian Utilities from C$50.00 to C$58.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, National Bank Financial upped their target price on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Canadian Utilities presently has a consensus rating of “Hold” and an average price target of C$53.57.

Canadian Utilities Trading Down 0.2%

The firm has a market capitalization of C$13.85 billion, a price-to-earnings ratio of 317.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. The company has a quick ratio of 1.30, a current ratio of 1.80 and a debt-to-equity ratio of 184.88. The firm’s 50 day moving average is C$52.91 and its 200 day moving average is C$50.83.

Canadian Utilities (TSE:CU) last announced its earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share (EPS) for the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%.The company had revenue of C$914.00 million for the quarter. Equities analysts forecast that Canadian Utilities Limited will post 2.4063556 earnings per share for the current year.

Canadian Utilities Company Profile

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company’s main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.