Capital Power (TSE:CPX) Price Target Cut to C$83.00 by Analysts at Canadian Imperial Bank of Commerce

Capital Power (TSE:CPX) had its price objective cut by analysts at Canadian Imperial Bank of Commerce from C$85.00 to C$83.00 in a research report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target would suggest a potential upside of 23.20% from the stock’s current price.

Several other analysts have also commented on CPX. National Bank Financial lifted their price objective on shares of Capital Power from C$75.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Desjardins raised their price target on shares of Capital Power from C$82.00 to C$88.00 and gave the stock a “top pick” rating in a research note on Friday, July 3rd. Wells Fargo & Company lifted their price target on shares of Capital Power from C$72.00 to C$75.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, BMO Capital Markets upped their price objective on Capital Power from C$75.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Capital Power currently has a consensus rating of “Buy” and a consensus target price of C$80.11.

Capital Power Stock Performance

Shares of Capital Power stock traded up C$1.37 during trading hours on Thursday, hitting C$67.37. 378,011 shares of the company’s stock traded hands, compared to its average volume of 678,163. The stock has a market capitalization of C$10.54 billion, a price-to-earnings ratio of -612.45, a PEG ratio of 0.91 and a beta of 0.63. Capital Power has a 12-month low of C$56.08 and a 12-month high of C$77.02. The company has a debt-to-equity ratio of 146.00, a current ratio of 0.69 and a quick ratio of 0.55. The company has a fifty day simple moving average of C$71.86 and a 200-day simple moving average of C$66.19.

Capital Power (TSE:CPX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C($0.33) earnings per share for the quarter. The company had revenue of C$714.00 million during the quarter. Capital Power had a return on equity of 0.49% and a net margin of 0.66%. Equities research analysts anticipate that Capital Power will post 2.8197088 EPS for the current fiscal year.

Insiders Place Their Bets

In other Capital Power news, insider Jason Daniel Comandante sold 1,500 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$74.88, for a total transaction of C$112,320.00. Following the completion of the transaction, the insider owned 8,711 shares in the company, valued at C$652,279.68. This trade represents a 14.69% decrease in their ownership of the stock. 0.17% of the stock is owned by corporate insiders.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.