Canadian Utilities (TSE:CU) Price Target Raised to C$51.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Canadian Utilities (TSE:CU) to C$51.00 (from C$47.00), implying about a 5.6% upside from the recent share price.
• Other major banks (RBC, National Bank, TD) also nudged up targets, and the stock carries a consensus "Hold" rating with an average price target of C$46.50.
• Shares traded around C$48.31 midday with a market cap of C$13.15B; the company last reported quarterly EPS of C$0.72 on C$971M revenue and shows a high trailing P/E of ~322, highlighting stretched valuation metrics.

Canadian Utilities (TSE:CU - Get Free Report) had its price target raised by stock analysts at Canadian Imperial Bank of Commerce from C$47.00 to C$51.00 in a research note issued on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price indicates a potential upside of 5.57% from the stock's current price.

A number of other equities analysts have also recently issued reports on the stock. National Bank Financial increased their price objective on shares of Canadian Utilities from C$43.00 to C$45.00 and gave the company a "sector perform" rating in a research note on Friday, February 27th. Royal Bank Of Canada increased their price objective 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, TD Securities increased their price objective on shares of Canadian Utilities from C$41.00 to C$47.00 and gave the company a "hold" rating in a research note on Tuesday, March 3rd. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$46.50.

Canadian Utilities Price Performance

Shares of CU stock traded down C$0.12 during mid-day trading on Monday, reaching C$48.31. The company's stock had a trading volume of 104,904 shares, compared to its average volume of 569,390. Canadian Utilities has a 1-year low of C$36.23 and a 1-year high of C$51.05. The company has a market cap of C$13.15 billion, a P/E ratio of 322.07, a PEG ratio of 2.38 and a beta of 0.55. The company has a debt-to-equity ratio of 194.86, a quick ratio of 1.30 and a current ratio of 1.56. The firm's 50-day moving average is C$47.97 and its two-hundred day moving average is C$43.94.

Canadian Utilities (TSE:CU - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported C$0.72 earnings per share (EPS) for the quarter. Canadian Utilities had a net margin of 3.22% and a return on equity of 1.74%. The company had revenue of C$971.00 million during the quarter. On average, research 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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