Canadian Utilities (TSE:CU) Share Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• Canadian Utilities shares fell below their 200-day moving average of C$50.81, reaching C$49.24 before last trading at C$50.56 on volume of 319,410 shares.
• Analysts remain cautious, with all seven covering the stock rating it “Hold.” However, several firms raised their price targets, and the consensus target is C$53.57.
• The company reported quarterly EPS of C$0.51 on revenue of C$914 million, while maintaining a relatively low 1.88% return on equity and 3.30% net margin.

Shares of Canadian Utilities Limited (TSE:CU - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$50.81 and traded as low as C$49.24. Canadian Utilities shares last traded at C$50.56, with a volume of 319,410 shares.

Wall Street Analyst Weigh In

CU has been the subject of a number of research reports. 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 research note on Tuesday, July 21st. TD lifted their target price on shares of Canadian Utilities from C$48.00 to C$52.00 and gave the stock a "hold" rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce boosted their price target on shares of Canadian Utilities from C$53.00 to C$55.00 in a research note on Thursday, July 30th. National Bank Financial upped their price target on shares of Canadian Utilities from C$51.00 to C$55.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets raised their price objective on Canadian Utilities from C$50.00 to C$55.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Canadian Utilities has an average rating of "Hold" and a consensus target price of C$53.57.

Canadian Utilities Trading Up 2.9%

The stock has a market capitalization of C$13.77 billion, a P/E ratio of 316.00, a P/E/G ratio of 2.38 and a beta of 0.47. The firm's 50 day moving average price is C$52.95 and its 200 day moving average price is C$50.81. The company has a debt-to-equity ratio of 184.88, a current ratio of 1.80 and a quick ratio of 1.30.

Canadian Utilities (TSE:CU - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share (EPS) for the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%.The company had revenue of C$914.00 million for the quarter. As a group, equities research analysts expect that Canadian Utilities Limited will post 2.4063556 earnings per share for the current fiscal year.

Canadian Utilities Company Profile

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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