Power Co. of Canada (TSE:POW) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS

Power Co. of Canada (TSE:POW) announced its earnings results on Tuesday. The financial services provider reported C$0.82 EPS for the quarter, missing the consensus estimate of C$1.14 by C($0.32), reports. Power Co. of Canada had a return on equity of 11.29% and a net margin of 8.29%. The business had revenue of C$5.29 billion during the quarter.

Power Co. of Canada Stock Down 3.9 %

Shares of Power Co. of Canada stock opened at C$45.02 on Thursday. Power Co. of Canada has a 12 month low of C$34.53 and a 12 month high of C$47.18. The business has a fifty day simple moving average of C$43.51 and a 200 day simple moving average of C$40.48. The company has a quick ratio of 107.64, a current ratio of 91.78 and a debt-to-equity ratio of 48.53. The stock has a market cap of C$26.67 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on POW. Desjardins increased their target price on Power Co. of Canada from C$43.00 to C$44.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Jefferies Financial Group lowered their price objective on shares of Power Co. of Canada from C$45.00 to C$44.00 in a research report on Friday, August 2nd. TD Securities raised shares of Power Co. of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. CIBC increased their price target on shares of Power Co. of Canada from C$45.00 to C$51.00 in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price objective on shares of Power Co. of Canada from C$46.00 to C$47.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Power Co. of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$45.83.

About Power Co. of Canada

Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, health and dental, disability, critical illness, and creditor insurance; accidental death and dismemberment; retirement savings and income and annuity products; and life assurance, pension, and investment products to individuals and small business owners.