Canadian Utilities Limited to Post Q1 2024 Earnings of $0.80 Per Share, National Bank Financial Forecasts (TSE:CU)

Canadian Utilities Limited (TSE:CU) – Analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of Canadian Utilities in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will earn $0.80 per share for the quarter. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.35 per share.

A number of other equities analysts also recently issued reports on the stock. Scotiabank dropped their price objective on shares of Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research note on Monday. CIBC dropped their price objective on shares of Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$35.29.

Canadian Utilities Price Performance

Shares of CU stock opened at C$30.44 on Thursday. The company has a debt-to-equity ratio of 147.99, a current ratio of 1.01 and a quick ratio of 1.30. The company’s 50-day simple moving average is C$30.53 and its two-hundred day simple moving average is C$30.74. Canadian Utilities has a one year low of C$28.13 and a one year high of C$39.87. The company has a market capitalization of C$6.22 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, beating the consensus estimate of C$0.69 by C$0.02. The company had revenue of C$974.00 million for the quarter. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%.

Canadian Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Thursday, May 2nd will be given a dividend of $0.453 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.81 dividend on an annualized basis and a yield of 5.95%. Canadian Utilities’s payout ratio is 77.68%.

Insider Activity at Canadian Utilities

In other Canadian Utilities news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of C$30.77, for a total value of C$1,544,530.92. 38.21% of the stock is currently owned by corporate insiders.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.