Power Co. of Canada (TSE:POW) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Power Co. of Canada shares climbed above their 200-day moving average, reaching C$94.70 and last trading at C$94.06, versus a 200-day average of C$78.53.
• Analyst sentiment is broadly positive, with an average rating of “Moderate Buy” and a consensus price target of C$86.60, although recent targets range as high as C$102.
• The company reported quarterly earnings of C$1.55 per share on revenue of C$11.70 billion; it has a C$59.04 billion market capitalization, a 10.91% return on equity and a 7.72% net margin.

Power Co. of Canada (TSE:POW - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$78.53 and traded as high as C$94.70. Power Co. of Canada shares last traded at C$94.06, with a volume of 800,817 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on POW shares. TD Securities lowered Power Co. of Canada from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. TD increased their price objective on shares of Power Co. of Canada from C$84.00 to C$101.00 and gave the company a "hold" rating in a research report on Friday, July 31st. National Bank Financial increased their price objective on shares of Power Co. of Canada from C$85.00 to C$102.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. Jefferies Financial Group upgraded shares of Power Co. of Canada from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Finally, Desjardins boosted their target price on shares of Power Co. of Canada from C$81.00 to C$87.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Power Co. of Canada has an average rating of "Moderate Buy" and a consensus price target of C$86.60.

Power Co. of Canada Stock Performance

The stock has a market capitalization of C$59.04 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 0.57 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 107.64 and a debt-to-equity ratio of 87.52. The firm has a 50-day moving average of C$90.94 and a 200-day moving average of C$78.53.

Power Co. of Canada (TSE:POW - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported C$1.55 earnings per share for the quarter. The business had revenue of C$11.70 billion for the quarter. Power Co. of Canada had a return on equity of 10.91% and a net margin of 7.72%. As a group, sell-side analysts predict that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

About Power Co. of Canada

Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.

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