Power Co. of Canada (TSE:POW) Sets New 52-Week High - Should You Buy?

Key Points

• 52-week high: Power Co. of Canada shares reached a new 52-week high of C$77.09 (last C$77.07) on Tuesday, trading up about 2% on volume of 684,801 shares.
• Analyst sentiment: Multiple firms have raised price targets and ratings (e.g., Desjardins to C$79 "buy", RBC to "moderate buy"), leaving a consensus rating of Moderate Buy with a consensus target of C$75.38 (four Buys, three Holds).
• Solid recent results and metrics: market cap C$48.89B, P/E 19.61 and PEG 0.57; last quarter EPS was C$1.36 on C$8.84B revenue, and analysts forecast roughly C$4.93 EPS for the year.

Power Co. of Canada (TSE:POW - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$77.09 and last traded at C$77.07, with a volume of 684801 shares. The stock had previously closed at C$75.73.

Wall Street Analyst Weigh In

A number of research firms have recently commented on POW. Canadian Imperial Bank of Commerce lifted their price objective on Power Co. of Canada from C$75.00 to C$78.00 and gave the stock a "hold" rating in a research note on Friday, March 20th. Desjardins lifted their price objective on Power Co. of Canada from C$78.00 to C$79.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. National Bank Financial lifted their price objective on Power Co. of Canada from C$69.00 to C$77.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 4th. Royal Bank Of Canada upgraded Power Co. of Canada from a "hold" rating to a "moderate buy" rating and lifted their price objective for the stock from C$69.00 to C$73.00 in a research note on Friday, March 20th. Finally, TD Securities upgraded Power Co. of Canada from a "hold" rating to a "buy" rating and set a C$74.00 price objective on the stock in a research note on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$75.38.

Power Co. of Canada Trading Up 2.0%

The firm has a market capitalization of C$48.89 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.57 and a beta of 0.67. The business has a 50-day moving average of C$68.78 and a two-hundred day moving average of C$68.99. The company has a quick ratio of 107.64, a current ratio of 1.44 and a debt-to-equity ratio of 105.91.

Power Co. of Canada (TSE:POW - Get Free Report) last released its earnings results on Wednesday, March 18th. The financial services provider reported C$1.36 earnings per share for the quarter. Power Co. of Canada had a return on equity of 10.81% and a net margin of 6.98%.The business had revenue of C$8.84 billion for the quarter. Research analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current fiscal year.

About Power Co. of Canada

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada's largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.

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