Canadian Utilities (TSE:CU) Given New C$46.00 Price Target at National Bank Financial

Key Points

• National Bank Financial raised its price target on Canadian Utilities from C$45.00 to C$46.00 and kept a "sector perform" rating; other banks (TD C$47, RBC C$49, CIBC C$51) also lifted targets, leaving the MarketBeat average target at C$46.83 and a consensus "Hold".
• Shares fell about 2.4% to C$47.79 on Thursday, and NBF's C$46 target implies roughly a 3.75% downside from the prior close.
• Recent quarter showed EPS of C$0.89 on C$1.08 billion revenue, while valuation and balance-sheet metrics include a P/E of 318.6 and a debt-to-equity ratio of 194.86, signaling elevated leverage and stretched valuation.

Canadian Utilities (TSE:CU - Get Free Report) had its price target raised by equities research analysts at National Bank Financial from C$45.00 to C$46.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's target price suggests a potential downside of 3.75% from the stock's previous close.

A number of other research firms have also weighed in on CU. TD Securities boosted their target price on Canadian Utilities from C$41.00 to C$47.00 and gave the stock a "hold" rating in a report on Tuesday, March 3rd. Royal Bank Of Canada upped their price target on shares of Canadian Utilities from C$43.00 to C$49.00 and gave the company a "sector perform" rating in a research note on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce increased their target price on Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$46.83.

Canadian Utilities Stock Down 2.4%

Shares of CU stock traded down C$1.16 during trading on Thursday, reaching C$47.79. The company's stock had a trading volume of 197,300 shares, compared to its average volume of 583,094. The company has a quick ratio of 1.30, a current ratio of 1.56 and a debt-to-equity ratio of 194.86. Canadian Utilities has a one year low of C$36.23 and a one year high of C$51.05. The business has a fifty day moving average price of C$48.52 and a 200-day moving average price of C$44.66. The company has a market cap of C$13.01 billion, a price-to-earnings ratio of 318.60, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. Canadian Utilities had a return on equity of 1.74% and a net margin of 3.22%.The firm had revenue of C$1.08 billion during the quarter. Analysts anticipate that Canadian Utilities will post 2.4063556 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.