CIBC Issues Pessimistic Forecast for Power Co. of Canada (TSE:POW) Stock Price

Power Co. of Canada (TSE:POW) had its price target reduced by equities researchers at CIBC from C$51.00 to C$48.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the financial services provider’s stock. CIBC’s price objective indicates a potential upside of 8.97% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets upped their price objective on shares of Power Co. of Canada from C$42.00 to C$49.00 in a research report on Tuesday, November 12th. National Bankshares raised their price objective on shares of Power Co. of Canada from C$42.00 to C$47.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, TD Securities boosted their target price on Power Co. of Canada from C$44.00 to C$49.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$46.94.

Power Co. of Canada Price Performance

Shares of TSE:POW opened at C$44.05 on Thursday. The company has a debt-to-equity ratio of 48.53, a quick ratio of 107.64 and a current ratio of 91.78. Power Co. of Canada has a one year low of C$35.83 and a one year high of C$47.89. The company has a 50-day simple moving average of C$44.90 and a 200-day simple moving average of C$42.97. The stock has a market capitalization of C$26.10 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.57 and a beta of 1.09.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings data on Tuesday, November 12th. The financial services provider reported C$0.82 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.14 by C($0.32). The company had revenue of C$5.29 billion for the quarter. Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. On average, analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current year.

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.