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

Power Co. of Canada (TSE:POW) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$63.57 and traded as high as C$71.94. Power Co. of Canada shares last traded at C$70.75, with a volume of 1,866,365 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on POW. BMO Capital Markets raised their price objective on shares of Power Co. of Canada from C$60.00 to C$71.00 in a research note on Wednesday, November 12th. National Bankshares lifted their price target on shares of Power Co. of Canada from C$58.00 to C$64.00 and gave the company a “sector perform” rating in a research report on Monday, October 27th. Jefferies Financial Group upped their price target on Power Co. of Canada from C$60.00 to C$68.00 in a report on Friday, November 14th. CIBC set a C$75.00 price objective on Power Co. of Canada and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Royal Bank Of Canada boosted their target price on Power Co. of Canada from C$60.00 to C$68.00 in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$69.50.

Power Co. of Canada Trading Down 1.1%

The firm has a market capitalization of C$45.07 billion, a PE ratio of 14.93, a PEG ratio of 0.57 and a beta of 0.93. The stock’s 50 day moving average price is C$71.91 and its two-hundred day moving average price is C$63.57.

Power Co. of Canada (TSE:POW) last announced its earnings results on Wednesday, November 12th. The financial services provider reported C$1.35 EPS for the quarter. The firm had revenue of C$9.89 billion for the quarter. Power Co. of Canada had a return on equity of 10.06% and a net margin of 4.45%. Analysts expect that Power Co. of Canada will post 4.9289678 earnings per share for the current year.

About Power Co. of Canada

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.