Power Co. of Canada (TSE:POW) Hits New 12-Month High – Time to Buy?

Power Co. of Canada (TSE:POW)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$44.67 and last traded at C$44.67, with a volume of 112874 shares. The stock had previously closed at C$44.15.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. CIBC decreased their target price on Power Co. of Canada from C$43.00 to C$40.00 in a research report on Friday, August 9th. Desjardins upped their price objective on shares of Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada raised their target price 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 research report on Monday, August 12th. Scotiabank boosted their price target on shares of Power Co. of Canada from C$47.00 to C$47.50 in a report on Wednesday, July 24th. Finally, TD Securities upgraded shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Power Co. of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$43.28.

Power Co. of Canada Stock Performance

The company has a current ratio of 91.78, a quick ratio of 107.64 and a debt-to-equity ratio of 48.53. The stock has a market cap of C$26.55 billion, a PE ratio of 10.21, a P/E/G ratio of 0.57 and a beta of 1.09. The business’s 50-day moving average price is C$42.35 and its 200-day moving average price is C$39.86.

Power Co. of Canada (TSE:POW) last announced its earnings results on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share for the quarter, beating the consensus estimate of C$1.12 by C$0.05. The company had revenue of C$9.91 billion during the quarter. Power Co. of Canada had a net margin of 8.29% and a return on equity of 11.29%. As a group, equities research analysts expect that Power Co. of Canada will post 4.9831081 earnings per share for the current fiscal year.

Power Co. of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Friday, September 27th. Power Co. of Canada’s dividend payout ratio is currently 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.