Canadian Utilities (TSE:CU) Stock Price Expected to Rise, Scotiabank Analyst Says

Canadian Utilities (TSE:CU) had its target price increased by analysts at Scotiabank from C$50.00 to C$53.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential downside of 3.41% from the company’s current price.

Other research analysts have also recently issued research reports about the company. TD upped their target price on Canadian Utilities from C$47.00 to C$48.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Royal Bank Of Canada boosted their price objective on Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price objective on Canadian Utilities from C$47.00 to C$51.00 in a research report on Monday, April 20th. Finally, National Bank Financial increased their target price on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$49.14.

Canadian Utilities Price Performance

Canadian Utilities stock opened at C$54.87 on Tuesday. The firm has a 50-day moving average price of C$51.60 and a 200-day moving average price of C$48.49. The firm has a market capitalization of C$14.94 billion, a PE ratio of 548.70, a price-to-earnings-growth ratio of 2.38 and a beta of 0.53. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 186.03. Canadian Utilities has a 12-month low of C$37.13 and a 12-month high of C$55.30.

Canadian Utilities (TSE:CU) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.89 EPS for the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. The company had revenue of C$1.08 billion for the quarter. As a group, equities research analysts forecast that Canadian Utilities will post 2.4063556 EPS for the current 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.