Canadian Utilities (TSE:CU) Given New C$55.00 Price Target at Canadian Imperial Bank of Commerce

Canadian Utilities (TSE:CU) had its target price hoisted by investment analysts at Canadian Imperial Bank of Commerce from C$53.00 to C$55.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective would suggest a potential downside of 2.60% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Scotiabank increased their price objective on Canadian Utilities from C$50.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. TD boosted their target price on Canadian Utilities from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. National Bank Financial upped their target price on Canadian Utilities from C$46.00 to C$51.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Finally, Royal Bank Of Canada lifted their price target on Canadian Utilities from C$49.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$53.57.

Canadian Utilities Price Performance

Canadian Utilities stock traded up C$1.53 during midday trading on Thursday, reaching C$56.47. 249,809 shares of the stock were exchanged, compared to its average volume of 573,813. The company’s fifty day moving average is C$52.26 and its 200-day moving average is C$48.94. The company has a debt-to-equity ratio of 186.03, a quick ratio of 1.30 and a current ratio of 1.32. The firm has a market cap of C$15.38 billion, a PE ratio of 564.70, a PEG ratio of 2.38 and a beta of 0.53. Canadian Utilities has a 52 week low of C$37.13 and a 52 week high of C$56.58.

Canadian Utilities (TSE:CU) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.51 EPS for the quarter. The firm had revenue of C$914.00 million during the quarter. Canadian Utilities had a net margin of 2.90% and a return on equity of 1.59%. On average, sell-side analysts forecast that Canadian Utilities will post 2.4063556 EPS for the current year.

About Canadian Utilities

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.