Canadian Utilities (TSE:CU) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Key Points

• Canadian Imperial Bank of Commerce raised Canadian Utilities’ price target to C$55 from C$53, implying approximately 2.6% downside from the stock’s current price.
• Other analysts also increased their targets, but ratings remain cautious: seven analysts rate the stock “Hold,” with a consensus rating of “Hold” and an average target price of C$53.57.
• Canadian Utilities shares recently traded at C$56.47, near their 12-month high of C$56.58. The company reported quarterly earnings of C$0.51 per share on revenue of C$914 million.

Canadian Utilities (TSE:CU - Get Free Report) had its price target upped by equities research analysts at Canadian Imperial Bank of Commerce from C$53.00 to C$55.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target indicates a potential downside of 2.60% from the stock's current price.

A number of other research firms have also recently commented on CU. Royal Bank Of Canada lifted their price target on shares of 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. 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 report on Friday, May 8th. National Bank Financial boosted their price objective on Canadian Utilities from C$46.00 to C$51.00 and gave the company a "sector perform" rating in a research note on Monday, June 1st. Finally, Scotiabank upped their price objective on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Seven research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of C$53.57.

Canadian Utilities Stock Performance

TSE:CU traded up C$1.53 during trading on Thursday, reaching C$56.47. The company's stock had a trading volume of 249,809 shares, compared to its average volume of 573,813. Canadian Utilities has a 12 month low of C$37.13 and a 12 month high of C$56.58. The firm has a market cap of C$15.38 billion, a price-to-earnings ratio of 564.70, a price-to-earnings-growth ratio of 2.38 and a beta of 0.53. The firm has a 50 day moving average of C$52.26 and a 200-day moving average of C$48.94. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32.

Canadian Utilities (TSE:CU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. The company had revenue of C$914.00 million for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. Research analysts expect that Canadian Utilities 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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