Canadian Utilities (TSE:CU) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered its price target on Canadian Utilities from C$63 to C$62 while maintaining a “sector perform” rating; the new target implies 18.68% upside from the prior close.
• Analyst views remain mixed, but MarketBeat reports a consensus “Hold” rating and average target price of C$54.71. Ratings include one Strong Buy, one Buy, and five Holds.
• Canadian Utilities reported quarterly EPS of C$0.43 and revenue of C$902 million. Shares traded at C$52.24 on Monday, up 0.1%.

Canadian Utilities (TSE:CU - Get Free Report) had its price target reduced by analysts at Royal Bank Of Canada from C$63.00 to C$62.00 in a note issued to investors on Monday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 18.68% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. TD Securities upgraded shares of Canadian Utilities from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 7th. National Bank Financial upped their target price on shares of Canadian Utilities from C$55.00 to C$56.00 and gave the company a "sector perform" rating in a research note on Thursday, October 8th. Canadian Imperial Bank of Commerce cut their target price on shares of Canadian Utilities from C$55.00 to C$52.00 in a report on Tuesday, September 22nd. BMO Capital Markets lifted their price target on shares of 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. Finally, Scotiabank boosted their price target on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$54.71.

Canadian Utilities Trading Up 0.1%

CU traded up C$0.05 during midday trading on Monday, reaching C$52.24. 132,998 shares of the company were exchanged, compared to its average volume of 624,883. The stock has a market capitalization of C$14.23 billion, a P/E ratio of 326.50, a PEG ratio of 2.38 and a beta of 0.40. Canadian Utilities has a one year low of C$40.87 and a one year high of C$56.90. The stock's 50-day simple moving average is C$50.53 and its 200 day simple moving average is C$50.00. The company has a debt-to-equity ratio of 184.88, a quick ratio of 1.30 and a current ratio of 1.80.

Canadian Utilities (TSE:CU - Get Free Report) last announced its quarterly earnings results on Friday, November 6th. The company reported C$0.43 EPS for the quarter. The company had revenue of C$902.00 million during the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%. As a group, analysts forecast that Canadian Utilities will post 2.41 earnings per share for the current fiscal year.

Canadian Utilities Company Profile

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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