CIBC Lowers Power Co. of Canada (TSE:POW) Price Target to C$40.00

Power Co. of Canada (TSE:POW) had its price objective decreased by CIBC from C$43.00 to C$40.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank lifted their target price on Power Co. of Canada from C$44.00 to C$45.00 and gave the company a sector perform rating in a research report on Wednesday, January 31st. National Bankshares upped their target price on shares of Power Co. of Canada from C$39.00 to C$41.00 in a research report on Thursday, March 21st. BMO Capital Markets increased their target price on shares of Power Co. of Canada from C$38.00 to C$41.00 in a research note on Friday, March 15th. Royal Bank of Canada raised shares of Power Co. of Canada from a sector perform rating to an outperform rating and boosted their price target for the company from C$41.00 to C$45.00 in a research note on Thursday, January 4th. Finally, Desjardins increased their price objective on shares of Power Co. of Canada from C$39.00 to C$40.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Power Co. of Canada presently has an average rating of Hold and an average target price of C$41.44.

Power Co. of Canada Trading Down 0.7 %

Shares of POW stock opened at C$36.40 on Friday. Power Co. of Canada has a twelve month low of C$32.33 and a twelve month high of C$40.30. The stock has a market cap of C$21.66 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.95 and a beta of 1.11. The company’s 50-day moving average price is C$38.13 and its 200-day moving average price is C$37.34. The company has a current ratio of 23.47, a quick ratio of 107.64 and a debt-to-equity ratio of 50.75.

Power Co. of Canada (TSE:POW) last posted its earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share for the quarter, missing the consensus estimate of C$1.00 by C($0.11). The firm had revenue of C$21.37 billion during the quarter. Power Co. of Canada had a net margin of 6.89% and a return on equity of 8.94%. As a group, equities analysts predict that Power Co. of Canada will post 4.5349398 earnings per share for the current year.

Power Co. of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, March 28th will be given a $0.563 dividend. This represents a $2.25 annualized dividend and a yield of 6.19%. The ex-dividend date is Wednesday, March 27th. This is a boost from Power Co. of Canada’s previous quarterly dividend of $0.53. Power Co. of Canada’s dividend payout ratio (DPR) is currently 65.60%.

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.