Power Co. of Canada (TSE:POW) Forecasted to Earn Q1 2024 Earnings of $1.09 Per Share

Power Co. of Canada (TSE:POW - Free Report) - Equities researchers at National Bank Financial issued their Q1 2024 earnings per share estimates for shares of Power Co. of Canada in a report released on Monday, April 29th. National Bank Financial analyst J. Gloyn forecasts that the financial services provider will post earnings of $1.09 per share for the quarter. The consensus estimate for Power Co. of Canada's current full-year earnings is $4.53 per share. National Bank Financial also issued estimates for Power Co. of Canada's Q2 2024 earnings at $1.16 EPS, Q3 2024 earnings at $1.17 EPS, Q4 2024 earnings at $1.21 EPS and FY2025 earnings at $5.04 EPS.

Power Co. of Canada (TSE:POW - Get Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The financial services provider reported C$0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.00 by C($0.11). The company had revenue of C$21.37 billion during the quarter. Power Co. of Canada had a return on equity of 8.94% and a net margin of 6.89%.

Several other research firms also recently commented on POW. BMO Capital Markets lifted their price objective on Power Co. of Canada from C$38.00 to C$41.00 in a report on Friday, March 15th. TD Securities downgraded Power Co. of Canada from a "buy" rating to a "hold" rating and lifted their price objective for the stock from C$40.00 to C$42.00 in a report on Friday, March 22nd. Desjardins lifted their price objective on Power Co. of Canada from C$39.00 to C$40.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Royal Bank of Canada upgraded Power Co. of Canada from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$41.00 to C$45.00 in a report on Thursday, January 4th. Finally, National Bankshares lifted their price objective on Power Co. of Canada from C$39.00 to C$41.00 in a report on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of C$41.44.

Power Co. of Canada Stock Up 0.5 %

Shares of POW traded up C$0.18 during trading hours on Wednesday, hitting C$36.86. The company had a trading volume of 3,098,937 shares, compared to its average volume of 2,920,418. Power Co. of Canada has a 52-week low of C$32.33 and a 52-week high of C$40.30. The firm has a fifty day moving average price of C$38.05 and a 200-day moving average price of C$37.40. The stock has a market capitalization of C$21.94 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 0.95 and a beta of 1.11. The company has a debt-to-equity ratio of 50.75, a quick ratio of 107.64 and a current ratio of 23.47.

Power Co. of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.563 per share. This is an increase from Power Co. of Canada's previous quarterly dividend of $0.53. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend is Wednesday, March 27th. Power Co. of Canada's payout ratio is currently 65.60%.

About Power Co. of Canada

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.