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

Power Co. of Canada (TSE:POW) shares reached a new 52-week high during trading on Friday . The company traded as high as C$43.62 and last traded at C$43.59, with a volume of 368133 shares changing hands. The stock had previously closed at C$42.95.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on POW shares. Jefferies Financial Group dropped their price objective on Power Co. of Canada from C$45.00 to C$44.00 in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on Power Co. of Canada from C$46.00 to C$47.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Scotiabank increased their price objective on Power Co. of Canada from C$47.00 to C$47.50 in a report on Wednesday, July 24th. Desjardins raised their price target on Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, TD Securities upgraded Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Power Co. of Canada has an average rating of “Moderate Buy” and a consensus price target of C$43.28.

Power Co. of Canada Stock Up 1.1 %

The business has a 50 day moving average of C$40.51 and a 200-day moving average of C$39.18. The company has a current ratio of 91.78, a quick ratio of 107.64 and a debt-to-equity ratio of 48.53. The stock has a market cap of C$25.73 billion, a PE ratio of 9.89, a P/E/G ratio of 0.95 and a beta of 1.09.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.12 by C$0.05. Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. The company had revenue of C$9.91 billion during the quarter. Equities research analysts predict that Power Co. of Canada will post 4.976825 EPS for the current fiscal year.

Power Co. of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a dividend of $0.563 per share. The ex-dividend date is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a yield of 5.19%. Power Co. of Canada’s payout ratio is 51.25%.

About Power Co. of Canada

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.