Canadian Utilities Limited (TSE:CU) Expected to Post Q1 2024 Earnings of $0.80 Per Share

Canadian Utilities Limited (TSE:CU) – Stock analysts at National Bank Financial issued their Q1 2024 earnings estimates for Canadian Utilities in a research report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $0.80 per share for the quarter. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.35 per share.

Canadian Utilities (TSE:CU) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.71 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.02. The business had revenue of C$974.00 million during the quarter. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%.

A number of other research firms have also recently commented on CU. Scotiabank cut their target price on shares of Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. CIBC cut their target price on shares of Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Canadian Utilities has a consensus rating of “Hold” and an average target price of C$35.29.

Canadian Utilities Trading Up 0.2 %

Shares of Canadian Utilities stock opened at C$30.69 on Thursday. The firm has a 50-day simple moving average of C$30.55 and a two-hundred day simple moving average of C$30.75. The company has a market cap of C$6.27 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. Canadian Utilities has a fifty-two week low of C$28.13 and a fifty-two week high of C$39.79. The company has a debt-to-equity ratio of 147.99, a quick ratio of 1.30 and a current ratio of 1.01.

Insider Activity

In other news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of C$30.77, for a total value of C$1,544,530.92. Company insiders own 38.21% of the company’s stock.

Canadian Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Thursday, May 2nd will be issued a $0.453 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.90%. Canadian Utilities’s payout ratio is 77.68%.

About Canadian Utilities

Canadian Utilities Limited, together with its subsidiaries, engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally. It operates through ATCO Energy Systems, ATCO EnPower, and Corporate & Other segments. The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in northern and central east Alberta, the Yukon, the Northwest Territories, and the Lloydminster area of Saskatchewan; and integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia.