Canadian Utilities (TSE:CU) Hits New 12-Month High - Should You Buy?

Key Points

• Canadian Utilities hit a new 52-week high, trading as high as C$53.86 and ending near C$53.65 on volume of about 20,138 shares.
• Analysts remain cautious overall: multiple firms recently raised price targets, but the stock’s consensus rating is still Hold with an average target of C$47.71, below the current price.
• The company reported quarterly EPS of C$0.89 on revenue of C$1.08 billion, while analysts expect full-year EPS of about 2.41.

Canadian Utilities Limited (TSE:CU - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as C$53.86 and last traded at C$53.65, with a volume of 20138 shares changing hands. The stock had previously closed at C$53.59.

Analyst Ratings Changes

CU has been the topic of several analyst reports. National Bank Financial boosted their target price on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a "sector perform" rating in a report on Monday, June 1st. Royal Bank Of Canada lifted their price target on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. TD upped their price target on shares of Canadian Utilities from C$47.00 to C$48.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Canadian Utilities from C$47.00 to C$51.00 in a research note on Monday, April 20th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average price target of C$47.71.

Canadian Utilities Stock Performance

The company has a market cap of C$14.64 billion, a PE ratio of 537.50, a PEG 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. The business's 50 day moving average is C$50.98 and its two-hundred day moving average is C$48.07.

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

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