Scotiabank Has Lowered Expectations for Capital Power (TSE:CPX) Stock Price

Key Points

• Scotiabank lowered Capital Power’s price target to C$79 from C$80 while maintaining a “sector outperform” rating, implying roughly 17.3% upside. Analysts overall have a “Buy” consensus with an average target of C$80.11.
• Capital Power shares rose 2.1% to C$67.37, with the stock trading between a one-year low of C$56.08 and high of C$77.02. The company recently reported quarterly revenue of C$714 million and a loss of C$0.33 per share.
• Insider Jason Daniel Comandante sold 1,500 shares for approximately C$112,320, reducing his direct ownership by 14.69%; insiders collectively own 0.17% of the company.

Capital Power (TSE:CPX - Get Free Report) had its target price reduced by Scotiabank from C$80.00 to C$79.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 17.26% from the company's current price.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price target on shares of Capital Power from C$75.00 to C$85.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Wells Fargo & Company boosted their price objective 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. Desjardins upped their target price on 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. Canadian Imperial Bank of Commerce lowered their price target on Capital Power from C$85.00 to C$83.00 in a research report on Thursday. Finally, National Bank Financial increased their price target on shares of Capital Power from C$75.00 to C$82.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$80.11.

Capital Power Stock Up 2.1%

Shares of CPX traded up C$1.37 during mid-day trading on Thursday, hitting C$67.37. 378,011 shares of the company traded hands, compared to its average volume of 678,163. The company has a market capitalization of C$10.54 billion, a PE ratio of -612.45, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. The company has a quick ratio of 0.55, a current ratio of 0.69 and a debt-to-equity ratio of 146.00. The business has a 50 day moving average of C$71.86 and a 200 day moving average of C$66.19. Capital Power has a 1-year low of C$56.08 and a 1-year high of C$77.02.

Capital Power (TSE:CPX - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported C($0.33) EPS for the quarter. The company had revenue of C$714.00 million during the quarter. Capital Power had a return on equity of 0.49% and a net margin of 0.66%. Equities research analysts anticipate that Capital Power will post 2.8197088 EPS for the current year.

Insider Buying and Selling

In other Capital Power news, insider Jason Daniel Comandante sold 1,500 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$74.88, for a total value of C$112,320.00. Following the sale, the insider directly owned 8,711 shares of the company's stock, valued at approximately C$652,279.68. This represents a 14.69% decrease in their ownership of the stock. Insiders own 0.17% of the company's stock.

Capital Power Company Profile

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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