Power Co. of Canada (TSE:POW) Reaches New 52-Week High - Here's What Happened

Power Co. of Canada (TSE:POW - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$44.89 and last traded at C$44.85, with a volume of 860375 shares changing hands. The stock had previously closed at C$44.37.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Power Co. of Canada from C$46.00 to C$47.00 and gave the company a "sector perform" rating in a report on Monday, August 12th. Scotiabank upped their target price on shares of Power Co. of Canada from C$47.00 to C$47.50 in a research note on Wednesday, July 24th. National Bankshares upped their target price on shares of Power Co. of Canada from C$42.00 to C$47.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. CIBC reduced their price target on shares of Power Co. of Canada from C$43.00 to C$40.00 in a research report on Friday, August 9th. Finally, TD Securities raised shares of Power Co. of Canada from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$43.83.

Power Co. of Canada Stock Up 1.1 %

The company's fifty day moving average is C$42.79 and its 200-day moving average is C$40.07. The company has a market capitalization of C$26.57 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09. The company has a debt-to-equity ratio of 48.53, a quick ratio of 107.64 and a current ratio of 91.78.

Power Co. of Canada (TSE:POW - Get Free Report) last released its earnings results on Thursday, August 8th. The financial services provider reported C$1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.12 by C$0.05. The company had revenue of C$9.91 billion during the quarter. Power Co. of Canada had a net margin of 8.29% and a return on equity of 11.29%. As a group, analysts predict that Power Co. of Canada will post 4.9289678 EPS for the current fiscal year.

Power Co. of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, September 27th were paid a $0.563 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.25 annualized dividend and a yield of 5.02%. Power Co. of Canada's payout ratio is 51.25%.

About Power Co. of Canada

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.