Capital Power Co. (TSE:CPX) to Post FY2024 Earnings of $3.50 Per Share, National Bank Financial Forecasts

Capital Power Co. (TSE:CPX) – Investment analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for Capital Power in a research note issued to investors on Wednesday, May 1st. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $3.50 for the year, up from their prior estimate of $2.52. The consensus estimate for Capital Power’s current full-year earnings is $3.21 per share.

CPX has been the subject of a number of other reports. Scotiabank dropped their price target on Capital Power from C$45.00 to C$40.00 and set a “sector perform” rating for the company in a report on Thursday. Raymond James cut their price target on Capital Power from C$46.00 to C$45.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. ATB Capital decreased their price objective on shares of Capital Power from C$42.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 17th. CIBC lowered their price objective on shares of Capital Power from C$40.00 to C$39.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada reduced their target price on shares of Capital Power from C$41.00 to C$39.00 and set a “sector perform” rating on the stock in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$44.45.

Capital Power Stock Performance

TSE:CPX opened at C$36.05 on Monday. The stock has a market capitalization of C$4.66 billion, a P/E ratio of 5.97, a price-to-earnings-growth ratio of 0.91 and a beta of 0.57. The company has a current ratio of 1.29, a quick ratio of 0.55 and a debt-to-equity ratio of 153.08. Capital Power has a 1 year low of C$33.90 and a 1 year high of C$46.73. The firm has a 50 day moving average of C$37.30 and a 200-day moving average of C$37.27.

Capital Power (TSE:CPX) last announced its earnings results on Wednesday, February 28th. The company reported C$0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.02. The business had revenue of C$984.00 million during the quarter. Capital Power had a net margin of 18.29% and a return on equity of 26.11%.

Capital Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date is Friday, June 28th. Capital Power’s dividend payout ratio (DPR) is currently 40.73%.

Insider Transactions at Capital Power

In related news, Senior Officer Jacquelyn Marie Pylypiuk sold 5,209 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$39.22, for a total value of C$204,296.98. Corporate insiders own 0.17% of the company’s stock.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.