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

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

Analyst Upgrades and Downgrades

POW has been the topic of several research reports. Scotiabank upped their price objective on shares of Power Co. of Canada from C$47.00 to C$47.50 in a report on Wednesday, July 24th. Royal Bank of Canada upped their price objective on shares of 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. CIBC decreased their price objective on shares of Power Co. of Canada from C$43.00 to C$40.00 in a report on Friday, August 9th. Jefferies Financial Group decreased their price objective on shares of Power Co. of Canada from C$45.00 to C$44.00 in a report on Friday, August 2nd. Finally, TD Securities raised shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$43.28.

Power Co. of Canada Stock Performance

The stock’s 50-day moving average price is C$40.42 and its 200-day moving average price is C$39.15. The company has a debt-to-equity ratio of 48.53, a current ratio of 91.78 and a quick ratio of 107.64. The company has a market cap of C$26.01 billion, a P/E ratio of 9.78, a PEG ratio of 0.95 and a beta of 1.09.

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

Power Co. of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be paid 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 5.13%. 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.