Analysts Issue Forecasts for TSE:CU Q3 Earnings

Canadian Utilities Limited (TSE:CU) – Research analysts at National Bank Financial issued their Q3 2024 earnings estimates for Canadian Utilities in a research note issued to investors on Wednesday, October 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings per share of $0.35 for the quarter. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.41 per share.

Other analysts have also issued research reports about the stock. National Bankshares upped their target price on shares of Canadian Utilities from C$34.00 to C$37.00 in a report on Friday, August 23rd. 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 research report on Tuesday, August 6th. BMO Capital Markets lifted their price objective on Canadian Utilities from C$35.50 to C$37.00 in a research note on Thursday, September 5th. Royal Bank of Canada upped their target price on Canadian Utilities from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 3rd. Finally, Scotiabank lifted their price target on Canadian Utilities from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$36.50.

Canadian Utilities Trading Down 0.5 %

Shares of Canadian Utilities stock opened at C$35.96 on Friday. The company’s 50-day moving average price is C$34.88 and its 200-day moving average price is C$32.27. 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 12-month low of C$28.60 and a 12-month high of C$37.10. The company has a market cap of C$7.37 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.38 and a beta of 0.66.

Canadian Utilities (TSE:CU) last released its quarterly earnings data on Friday, August 2nd. The company reported C$0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.42 by C$0.01. Canadian Utilities had a return on equity of 8.72% and a net margin of 16.43%. The company had revenue of C$860.00 million for the quarter.

Canadian Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.453 per share. This represents a $1.81 annualized dividend and a yield of 5.04%. The ex-dividend date is Thursday, November 7th. Canadian Utilities’s dividend payout ratio (DPR) 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.