Power Co. of Canada to Post FY2019 Earnings of $3.10 Per Share, Desjardins Forecasts (TSE:POW)

Power Co. of Canada (TSE:POW) – Stock analysts at Desjardins dropped their FY2019 earnings per share (EPS) estimates for Power Co. of Canada in a note issued to investors on Monday, August 5th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $3.10 per share for the year, down from their prior forecast of $3.14. Desjardins also issued estimates for Power Co. of Canada’s FY2020 earnings at $3.46 EPS.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings results on Tuesday, May 14th. The financial services provider reported C$0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.75 by C($0.12). The firm had revenue of C$17.87 billion for the quarter.

Several other research firms have also commented on POW. BMO Capital Markets lifted their price target on shares of Power Co. of Canada from C$31.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. TD Securities reduced their target price on shares of Power Co. of Canada from C$33.00 to C$32.00 in a research note on Thursday, May 16th. Finally, CIBC reduced their target price on shares of Power Co. of Canada from C$34.00 to C$31.00 in a research note on Wednesday.

TSE POW opened at C$27.30 on Thursday. Power Co. of Canada has a one year low of C$23.35 and a one year high of C$32.60. The firm has a 50-day simple moving average of C$28.08. The company has a debt-to-equity ratio of 46.07, a current ratio of 20.95 and a quick ratio of 19.60. The firm has a market cap of $10.27 billion and a price-to-earnings ratio of 12.10.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 5.93%. This is a positive change from Power Co. of Canada’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, September 6th. Power Co. of Canada’s payout ratio is presently 68.72%.

About Power Co. of Canada

Power Corporation of Canada operates as a diversified international management and holding company with interests primarily in the financial services, sustainable and renewable energy, asset management, communications, and other business sectors in North America, Europe, and Asia. The company operates through Lifeco, IGM Financial, and Pargesa segments.

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Earnings History and Estimates for Power Co. of Canada (TSE:POW)

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