FY2024 EPS Estimates for Canadian Utilities Limited (TSE:CU) Boosted by Analyst

Canadian Utilities Limited (TSE:CU) – Equities researchers at National Bank Financial increased their FY2024 EPS estimates for Canadian Utilities in a report issued on Thursday, May 2nd. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $2.41 per share for the year, up from their prior estimate of $2.34. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.34 per share.

CU has been the topic of a number of other research reports. CIBC cut their price objective on shares of Canadian Utilities from C$35.00 to C$34.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Scotiabank reduced their price objective on Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$35.29.

Canadian Utilities Stock Up 1.6 %

Shares of TSE:CU opened at C$30.71 on Monday. The company has a debt-to-equity ratio of 147.99, a quick ratio of 1.30 and a current ratio of 1.01. Canadian Utilities has a 52-week low of C$28.13 and a 52-week high of C$39.60. The firm has a market capitalization of C$6.27 billion, a P/E ratio of 13.18, a P/E/G ratio of 2.38 and a beta of 0.60. The stock has a 50 day moving average price of C$30.55 and a 200-day moving average price of C$30.81.

Canadian Utilities (TSE:CU) last posted its earnings results on Thursday, February 29th. The company reported C$0.71 EPS for the quarter, topping the consensus estimate of C$0.69 by C$0.02. Canadian Utilities had a net margin of 18.63% and a return on equity of 10.08%. The firm had revenue of C$974.00 million during the quarter.

Canadian Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.453 per share. This represents a $1.81 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Wednesday, May 1st. Canadian Utilities’s dividend payout ratio is presently 77.68%.

Insider Activity

In other Canadian Utilities news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of C$30.77, for a total transaction of C$1,544,530.92. Insiders own 37.97% of the company’s stock.

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.