Hydro One (TSE:H) Given New C$34.00 Price Target at Scotiabank

Hydro One (TSE:H – Get Rating) had its price target increased by analysts at Scotiabank from C$32.00 to C$34.00 in a report issued on Tuesday, BayStreet.CA reports. Scotiabank’s price target would suggest a potential downside of 1.31% from the stock’s current price.

Several other research firms also recently issued reports on H. CSFB downgraded Hydro One from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from C$34.00 to C$36.00 in a report on Wednesday, April 13th. CIBC boosted their price objective on Hydro One from C$34.00 to C$35.00 in a report on Tuesday, January 11th. Raymond James set a C$32.00 target price on shares of Hydro One and gave the company a “market perform” rating in a research note on Monday, February 28th. Finally, Credit Suisse Group cut shares of Hydro One to an “underperform” rating and set a C$34.00 price target for the company. in a research report on Wednesday, April 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$32.88.

Shares of TSE:H traded down C$0.01 during midday trading on Tuesday, reaching C$34.45. The company’s stock had a trading volume of 201,491 shares, compared to its average volume of 1,436,599. Hydro One has a fifty-two week low of C$29.13 and a fifty-two week high of C$35.56. The company has a market capitalization of C$20.61 billion and a P/E ratio of 21.41. The company has a debt-to-equity ratio of 134.23, a current ratio of 0.61 and a quick ratio of 0.51. The business’s fifty day simple moving average is C$32.90 and its 200-day simple moving average is C$31.87.

Hydro One (TSE:H – Get Rating) last posted its quarterly earnings data on Friday, February 25th. The company reported C$0.26 earnings per share for the quarter, meeting the consensus estimate of C$0.26. The company had revenue of C$1.78 billion during the quarter. On average, analysts forecast that Hydro One will post 1.6909746 earnings per share for the current fiscal year.

About Hydro One (Get Rating)

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. It operates through three segments: Transmission Business, Distribution Business, and Other. The company owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and 125,000 circuit kilometers of primary low-voltage distribution network.

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