Power Co. of Canada (TSE:POW) Downgraded by TD Securities to Hold

Power Co. of Canada (TSE:POW) was downgraded by equities researchers at TD Securities from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also commented on POW. Jefferies Financial Group upped their price objective on shares of Power Co. of Canada from C$73.00 to C$90.00 in a research note on Thursday. TD cut Power Co. of Canada from a “buy” rating to a “hold” rating and increased their price target for the stock from C$74.00 to C$84.00 in a report on Thursday. Desjardins increased their price objective on shares of Power Co. of Canada from C$81.00 to C$87.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets raised their price objective on shares of Power Co. of Canada from C$69.00 to C$79.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Scotia raised their price target on shares of Power Co. of Canada from C$79.00 to C$90.00 and gave the company a “sector outperform” rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$83.10.

Power Co. of Canada Stock Performance

TSE POW opened at C$80.72 on Thursday. The stock has a market cap of C$50.87 billion, a PE ratio of 19.40, a PEG ratio of 0.57 and a beta of 0.71. Power Co. of Canada has a fifty-two week low of C$49.10 and a fifty-two week high of C$80.85. The company has a debt-to-equity ratio of 105.91, a quick ratio of 107.64 and a current ratio of 1.44. The firm’s fifty day moving average price is C$70.60 and its two-hundred day moving average price is C$69.95.

Power Co. of Canada (TSE:POW) last issued its quarterly earnings data on Tuesday, May 12th. The financial services provider reported C$1.43 earnings per share for the quarter. Power Co. of Canada had a return on equity of 10.81% and a net margin of 6.98%.The business had revenue of C$10.96 billion for the quarter. On average, equities analysts expect that Power Co. of Canada will post 4.9289678 EPS for the current fiscal year.

Key Stories Impacting Power Co. of Canada

Here are the key news stories impacting Power Co. of Canada this week:

• Positive Sentiment: Jefferies raised its price target on Power Co. of Canada (POW) to C$90 from C$73, implying further upside and reinforcing a bullish view on the stock. Power Co. of Canada (TSE:POW) Given New C$90.00 Price Target at Jefferies Financial Group
• Positive Sentiment: Scotia increased its target to C$90 from C$79 and kept a Sector Outperform rating, signaling confidence in Power Co. of Canada’s outlook. Scotia Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price
• Positive Sentiment: Desjardins lifted its target to C$87 from C$81 and maintained a Buy rating, adding to the wave of bullish analyst revisions for POW. Desjardins Issues Positive Forecast for Power Co. of Canada (TSE:POW) Stock Price
• Positive Sentiment: Royal Bank of Canada raised its target to C$86 from C$73 and reiterated an Outperform rating, supporting the stock’s recent strength. Power Co. of Canada (TSE:POW) Price Target Raised to C$86.00 at Royal Bank Of Canada
• Neutral Sentiment: National Bank Financial also raised its target to C$85 from C$77 with a Sector Perform rating, which is supportive but less bullish than the top-tier upgrades. Power Co. of Canada (TSE:POW) Given New C$85.00 Price Target at National Bank Financial
• Negative Sentiment: TD downgraded Power Co. of Canada (POW) from Buy to Hold, which may temper some of the optimism despite TD still raising its target to C$84. Power Co. of Canada (TSE:POW) Downgraded by TD to Hold

About Power Co. of Canada

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.