Canadian Utilities (TSE:CU) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Canadian Utilities shares rose above their 200-day moving average, trading as high as C$52.70 and last changing hands at C$52.63. The 200-day moving average was C$47.80, highlighting a recent upward move in the stock.
• Analyst sentiment remains cautious, with multiple firms recently lifting price targets, but the overall consensus is still a "Hold." MarketBeat reports an average price target of C$47.71, below the current share price.
• The company reported quarterly EPS of C$0.89 on revenue of C$1.08 billion in its latest earnings release. Canadian Utilities also has a large market cap of C$14.33 billion and a relatively high debt-to-equity ratio of 186.03.

Canadian Utilities Limited (TSE:CU - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$47.80 and traded as high as C$52.70. Canadian Utilities shares last traded at C$52.63, with a volume of 487,595 shares.

Analyst Ratings Changes

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

Canadian Utilities Stock Performance

The firm has a market cap of C$14.33 billion, a P/E ratio of 526.30, 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 company's 50-day moving average is C$50.71 and its two-hundred day moving average is C$47.80.

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 (EPS) for the quarter. The business had revenue of C$1.08 billion during the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%. As a group, equities analysts predict that Canadian Utilities Limited will post 2.4063556 EPS for the current fiscal 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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