National Bank Financial Forecasts Strong Price Appreciation for Canadian Utilities (TSE:CU) Stock

Canadian Utilities (TSE:CU) had its price objective upped by National Bank Financial from C$46.00 to C$51.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price objective would indicate a potential upside of 4.27% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CU. Canadian Imperial Bank of Commerce increased their price objective on Canadian Utilities from C$47.00 to C$51.00 in a report on Monday, April 20th. TD increased their target price on Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. TD Securities raised their price objective on Canadian Utilities from C$41.00 to C$47.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada lifted their target price on Canadian Utilities from C$49.00 to C$50.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$47.71.

Canadian Utilities Price Performance

Shares of CU traded down C$0.69 during midday trading on Monday, reaching C$48.91. The stock had a trading volume of 139,032 shares, compared to its average volume of 603,252. The company has a market capitalization of C$13.32 billion, a price-to-earnings ratio of 489.10, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. Canadian Utilities has a 12-month low of C$37.13 and a 12-month high of C$51.26. The company’s 50-day moving average is C$48.88 and its 200 day moving average is C$45.77. 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 (TSE:CU) last issued its earnings results on Wednesday, May 6th. The company reported C$0.89 earnings per share for the quarter. The company had revenue of C$1.08 billion during the quarter. Canadian Utilities had a return on equity of 1.59% and a net margin of 2.90%. On average, equities analysts predict that Canadian Utilities will post 2.4063556 EPS for the current fiscal 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.