Scotiabank Cuts Power Co. of Canada (TSE:POW) Price Target to C$43.50

Power Co. of Canada (TSE:POWGet Rating) had its target price reduced by Scotiabank from C$45.50 to C$43.50 in a research report report published on Tuesday, BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on POW. National Bankshares decreased their target price on shares of Power Co. of Canada from C$48.00 to C$46.00 and set a sector perform rating on the stock in a research report on Friday, March 18th. Royal Bank of Canada lifted their price target on shares of Power Co. of Canada from C$47.00 to C$48.00 and gave the company a sector perform rating in a report on Thursday, January 20th. National Bank Financial boosted their price objective on shares of Power Co. of Canada to C$48.00 and gave the company a sector perform rating in a research note on Monday, January 10th. CIBC cut their target price on Power Co. of Canada from C$47.00 to C$44.00 and set a neutral rating on the stock in a research report on Friday, March 18th. Finally, BMO Capital Markets lowered their price target on Power Co. of Canada from C$44.00 to C$40.00 in a research report on Monday, May 9th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Power Co. of Canada currently has an average rating of Hold and a consensus price target of C$43.69.

POW stock opened at C$34.60 on Tuesday. The stock has a market capitalization of C$23.41 billion and a price-to-earnings ratio of 8.10. The company has a quick ratio of 16.55, a current ratio of 19.91 and a debt-to-equity ratio of 44.67. Power Co. of Canada has a 52-week low of C$33.03 and a 52-week high of C$44.53. The stock’s fifty day simple moving average is C$38.16 and its 200-day simple moving average is C$40.49.

Power Co. of Canada (TSE:POWGet Rating) last released its earnings results on Thursday, March 17th. The financial services provider reported C$0.98 earnings per share for the quarter, missing the consensus estimate of C$1.03 by C($0.05). The company had revenue of C$19.48 billion during the quarter. As a group, analysts anticipate that Power Co. of Canada will post 4.6499998 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, March 31st were issued a dividend of $0.495 per share. This is a positive change from Power Co. of Canada’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 30th. This represents a $1.98 annualized dividend and a dividend yield of 5.72%. Power Co. of Canada’s payout ratio is presently 43.02%.

About Power Co. of Canada (Get Rating)

Power Corporation of Canada operates as an international management and holding company in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, disability, critical illness, accidental death, dismemberment, health and dental protection, and creditor insurance; retirement and investment management; asset management; and reinsurance and retrocession; investment advisory, financial planning, and related services; and fund, protection, and wealth management services.

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