Canadian Utilities (TSE:CU) Price Target Cut to C$52.00 by Analysts at Canadian Imperial Bank of Commerce

Key Points

• CIBC cut Canadian Utilities’ price target to C$52 from C$55, implying approximately 2.5% upside from the stock’s C$50.73 trading price.
• Analyst sentiment remains cautious: seven analysts rate the shares Hold, with a consensus target of C$53.14.
• Canadian Utilities reported quarterly earnings of C$0.51 per share on C$914 million in revenue; the stock has a high debt-to-equity ratio of 184.88 and trades at a very elevated P/E ratio of 317.06.

Canadian Utilities (TSE:CU - Get Free Report) had its target price decreased by research analysts at Canadian Imperial Bank of Commerce from C$55.00 to C$52.00 in a report issued on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce's price target suggests a potential upside of 2.50% from the company's current price.

A number of other analysts also recently weighed in on CU. Scotiabank boosted their target price on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. BMO Capital Markets lifted their price target on Canadian Utilities from C$50.00 to C$55.00 and gave the stock a "market perform" rating in a research report on Thursday, July 30th. TD upped their price objective on Canadian Utilities from C$48.00 to C$52.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised their price target on Canadian Utilities from C$50.00 to C$58.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Finally, National Bank Financial lifted their price objective on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canadian Utilities has a consensus rating of "Hold" and an average target price of C$53.14.

Canadian Utilities Price Performance

Shares of CU traded up C$0.23 during mid-day trading on Tuesday, hitting C$50.73. 101,873 shares of the stock were exchanged, compared to its average volume of 587,327. The company has a debt-to-equity ratio of 184.88, a quick ratio of 1.30 and a current ratio of 1.80. The company has a market cap of C$13.82 billion, a PE ratio of 317.06, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. Canadian Utilities has a 52-week low of C$37.55 and a 52-week high of C$56.90. The firm has a 50-day moving average of C$52.84 and a two-hundred day moving average of C$50.88.

Canadian Utilities (TSE:CU - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. The firm had revenue of C$914.00 million during the quarter. Canadian Utilities had a net margin of 3.30% and a return on equity of 1.88%. On average, equities analysts predict that Canadian Utilities will post 2.4063556 earnings per share for the current year.

About Canadian Utilities

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company's main divisions include electricity (generation, transmission, and distribution), pipelines & liquid (natural gas and water), and Retail Energy. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States and Mexico. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.

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