TSE:CU FY2024 EPS Forecast Lifted by National Bank Financial

Canadian Utilities Limited (TSE:CU - Free Report) - Equities research analysts at National Bank Financial raised their FY2024 EPS estimates for shares of Canadian Utilities in a research note issued to investors on Sunday, November 17th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $2.39 per share for the year, up from their previous estimate of $2.37. The consensus estimate for Canadian Utilities' current full-year earnings is $2.41 per share.

A number of other research firms have also recently issued reports on CU. National Bankshares boosted their target price on Canadian Utilities from C$34.00 to C$37.00 in a research note on Friday, August 23rd. Scotiabank raised their target price on shares of Canadian Utilities from C$34.00 to C$36.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on shares of Canadian Utilities from C$38.00 to C$39.00 in a report on Friday, November 15th. CIBC increased their price objective on Canadian Utilities from C$34.00 to C$35.00 and gave the stock a "neutral" rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets upped their price target on Canadian Utilities from C$35.50 to C$37.00 in a research report on Thursday, September 5th.

Canadian Utilities Price Performance

Shares of Canadian Utilities stock traded down C$0.13 during midday trading on Wednesday, reaching C$35.33. The company had a trading volume of 36,338 shares, compared to its average volume of 502,847. The company has a market capitalization of C$7.24 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.38 and a beta of 0.66. The company has a current ratio of 1.29, a quick ratio of 1.30 and a debt-to-equity ratio of 149.94. Canadian Utilities has a 1-year low of C$29.15 and a 1-year high of C$37.10. The stock has a fifty day simple moving average of C$35.49 and a 200 day simple moving average of C$32.85.

Canadian Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.453 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.81 dividend on an annualized basis and a yield of 5.13%. Canadian Utilities's dividend payout ratio is currently 91.41%.

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.