Canadian Utilities (TSE:CU) Stock Price Breaks Below 200 Day Moving Average – Time to Sell?

Canadian Utilities Limited (TSE:CU) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$51.13 and traded as low as C$49.25. Canadian Utilities shares last traded at C$49.48, with a volume of 953,661 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canadian Imperial Bank of Commerce dropped their price target on Canadian Utilities from C$55.00 to C$52.00 in a research report on Tuesday, September 22nd. Scotiabank increased their target price on shares of Canadian Utilities from C$50.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. TD raised their target price on shares of Canadian Utilities from C$52.00 to C$57.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. BMO Capital Markets raised their target price on shares of Canadian Utilities from C$50.00 to C$55.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, National Bank Financial lifted their price target on shares of Canadian Utilities from C$55.00 to C$56.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$54.71.

Canadian Utilities Stock Performance

The stock has a market cap of C$13.61 billion, a P/E ratio of 312.44, a PEG ratio of 2.38 and a beta of 0.36. The business has a 50 day moving average price of C$51.11 and a 200 day moving average price of C$51.12. The company has a quick ratio of 1.30, a current ratio of 1.80 and a debt-to-equity ratio of 184.88.

Canadian Utilities (TSE:CU) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$0.51 earnings per share for the quarter. Canadian Utilities had a return on equity of 1.88% and a net margin of 3.30%. The firm had revenue of C$914.00 million for the quarter. As a group, sell-side analysts expect that Canadian Utilities Limited will post 2.41 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.