Capital Power Co. Expected to Post FY2024 Earnings of $4.44 Per Share (TSE:CPX)

Capital Power Co. (TSE:CPX) – Research analysts at Atb Cap Markets cut their FY2024 earnings per share estimates for shares of Capital Power in a research note issued on Monday, August 26th. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $4.44 for the year, down from their prior estimate of $4.53. Atb Cap Markets currently has a “Strong-Buy” rating on the stock.

Other equities analysts have also recently issued research reports about the company. TD Securities boosted their price objective on Capital Power from C$47.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Scotiabank upped their price target on Capital Power from C$43.00 to C$46.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. CIBC raised their price objective on shares of Capital Power from C$42.00 to C$45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. BMO Capital Markets upped their target price on shares of Capital Power from C$38.00 to C$42.00 in a research note on Thursday, August 1st. Finally, ATB Capital increased their price target on shares of Capital Power from C$40.00 to C$42.00 in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.89.

Capital Power Stock Up 0.3 %

Capital Power stock opened at C$44.95 on Thursday. The company has a debt-to-equity ratio of 133.46, a current ratio of 0.88 and a quick ratio of 0.55. Capital Power has a fifty-two week low of C$33.90 and a fifty-two week high of C$45.15. The firm has a fifty day moving average price of C$41.77 and a two-hundred day moving average price of C$39.21. The firm has a market cap of C$5.84 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 0.91 and a beta of 0.63.

Capital Power (TSE:CPX) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.51 EPS for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.12). The firm had revenue of C$774.00 million during the quarter. Capital Power had a net margin of 16.77% and a return on equity of 19.49%.

Insider Activity at Capital Power

In related news, Senior Officer Bryan Deneve sold 2,441 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of C$40.38, for a total transaction of C$98,577.10. 0.17% of the stock is currently owned by insiders.

Capital Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.652 per share. This is a positive change from Capital Power’s previous quarterly dividend of $0.62. This represents a $2.61 annualized dividend and a dividend yield of 5.80%. The ex-dividend date is Monday, September 30th. Capital Power’s payout ratio is 51.68%.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.