Canadian Utilities Limited Forecasted to Earn Q1 2024 Earnings of $0.80 Per Share (TSE:CU)

Canadian Utilities Limited (TSE:CU) – National Bank Financial issued their Q1 2024 earnings per share estimates for Canadian Utilities in a research report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.80 for the quarter. The consensus estimate for Canadian Utilities’ current full-year earnings is $2.35 per share.

A number of other equities research analysts have also recently weighed in on the stock. 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 research note on Friday, April 19th. Scotiabank cut their price objective on shares of Canadian Utilities from C$35.00 to C$33.00 and set a “sector perform” rating on the stock in a research note on Monday. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$35.29.

Canadian Utilities Price Performance

Shares of TSE CU opened at C$30.64 on Thursday. Canadian Utilities has a fifty-two week low of C$28.13 and a fifty-two week high of C$39.87. The firm’s 50-day simple moving average is C$30.54 and its 200 day simple moving average is C$30.74. The company has a quick ratio of 1.30, a current ratio of 1.01 and a debt-to-equity ratio of 147.99. The stock has a market cap of C$6.26 billion, a P/E ratio of 13.15, a P/E/G ratio of 2.38 and a beta of 0.60.

Canadian Utilities (TSE:CU) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$974.00 million for the quarter.

Insider Buying and Selling

In related news, insider Sentgraf Enterprises Ltd. sold 50,196 shares of Canadian Utilities 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. 38.21% of the stock is owned by corporate insiders.

Canadian Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Thursday, May 2nd will be issued a dividend of $0.453 per share. This represents a $1.81 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Wednesday, May 1st. Canadian Utilities’s payout ratio is currently 77.68%.

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.