Canadian Utilities (TSE:CU) Hits New 12-Month High - Here's What Happened

Key Points

• Canadian Utilities hit a new 52-week high on Thursday, trading as high as C$55.44 before closing at C$55.40.
• Several analysts raised their price targets on the stock recently, though the overall consensus remains “Hold” with an average target of C$49.14.
• The company reported quarterly earnings of C$0.89 per share on revenue of C$1.08 billion, and analysts expect about 2.41 EPS for the current fiscal year.

Canadian Utilities Limited (TSE:CU - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$55.44 and last traded at C$55.40, with a volume of 42684 shares trading hands. The stock had previously closed at C$54.87.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CU. TD lifted their price target on Canadian Utilities from C$47.00 to C$48.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce upped their price objective on Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. National Bank Financial increased their price objective on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. Scotiabank increased their price objective on Canadian Utilities from C$50.00 to C$53.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Finally, Royal Bank Of Canada lifted their target price on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a "sector perform" rating in a report on Thursday, May 7th. Six analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$49.14.

Canadian Utilities Stock Performance

The stock's 50-day simple moving average is C$51.60 and its 200-day simple moving average is C$48.49. The stock has a market cap of C$15.13 billion, a price-to-earnings ratio of 555.50, a price-to-earnings-growth ratio of 2.38 and a beta of 0.53. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 186.03.

Canadian Utilities (TSE:CU - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. The company had revenue of C$1.08 billion during the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. Analysts forecast that Canadian Utilities Limited will post 2.4063556 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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