Desjardins Lifts Earnings Estimates for Power Co. of Canada

Power Co. of Canada (TSE:POW) – Research analysts at Desjardins lifted their FY2024 earnings per share estimates for Power Co. of Canada in a research note issued on Monday, March 3rd. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $4.78 for the year, up from their previous estimate of $4.72. Desjardins has a “Buy” rating and a $53.00 price objective on the stock. The consensus estimate for Power Co. of Canada’s current full-year earnings is $4.93 per share. Desjardins also issued estimates for Power Co. of Canada’s Q4 2024 earnings at $1.65 EPS, FY2025 earnings at $5.25 EPS and FY2026 earnings at $5.70 EPS.

Several other analysts have also commented on the company. TD Securities lifted their price target on Power Co. of Canada from C$49.00 to C$53.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Cibc World Mkts raised Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. BMO Capital Markets boosted their price objective on Power Co. of Canada from C$42.00 to C$49.00 in a research note on Tuesday, November 12th. CIBC raised Power Co. of Canada from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$48.00 to C$55.00 in a research note on Friday, February 7th. Finally, Jefferies Financial Group boosted their price objective on Power Co. of Canada from C$52.00 to C$54.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$50.69.

Power Co. of Canada Stock Performance

Shares of POW opened at C$50.06 on Wednesday. Power Co. of Canada has a 12 month low of C$35.83 and a 12 month high of C$50.31. The firm has a 50 day simple moving average of C$45.24. The firm has a market capitalization of C$32.00 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 0.57 and a beta of 1.09.

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.