Capital Power (TSE:CPX) Stock Breaks Below Two Hundred Day Moving Average - Here's Why

Key Points

• Capital Power shares fell below their 200-day moving average of C$67.20, trading as low as C$61.05 before closing at C$61.48.
• Despite the technical decline, analysts remain positive: the stock has a consensus “Buy” rating and a consensus price target of C$79.80, well above its recent price.
• Capital Power reported a quarterly loss of C$0.33 per share on C$714 million in revenue, with a 3.05% net margin and 150.64% debt-to-equity ratio.

Capital Power Co. (TSE:CPX - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$67.20 and traded as low as C$61.05. Capital Power shares last traded at C$61.48, with a volume of 413,669 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CPX shares. Scotiabank dropped their price objective on Capital Power from C$80.00 to C$79.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada set a C$80.00 target price on shares of Capital Power and gave the stock an "outperform" rating in a report on Thursday, September 17th. Desjardins increased their price target on shares of Capital Power from C$82.00 to C$88.00 and gave the company a "top pick" rating in a research report on Friday, July 3rd. Wells Fargo & Company raised their price target on shares of Capital Power from C$72.00 to C$75.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Finally, Canadian Imperial Bank of Commerce cut their price objective on shares of Capital Power from C$83.00 to C$80.00 in a research report on Tuesday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$79.80.

Capital Power Stock Down 1.1%

The company has a market capitalization of C$9.66 billion, a price-to-earnings ratio of 107.86, a P/E/G ratio of 0.91 and a beta of 0.61. The business's 50-day moving average is C$64.71 and its 200-day moving average is C$67.20. The company has a quick ratio of 0.55, a current ratio of 0.80 and a debt-to-equity ratio of 150.64.

Capital Power (TSE:CPX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.33) EPS for the quarter. Capital Power had a return on equity of 2.31% and a net margin of 3.05%.The firm had revenue of C$714.00 million for the quarter. As a group, equities analysts predict that Capital Power Co. will post 2.8197088 earnings per share for the current year.

About Capital Power

Capital Power TSX: CPX is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.

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